The ro-ro owner said in November it would hand excess cash to shareholders through an extra dividend or buy-back.

The deal now on the table is equivalent to around 465,000 shares at the time of the announcement on Friday. The stock has risen 3.45% since, to DKK 449.50.

"The aim is to optimise the capital structure," DFDS said.

The stock is expected to be cancelled through a capital reduction, boosting the price for remaining investors.

It