Fairstar Heavy Transport has enlisted the support of two Nordic banking giants to help repel a hostile takeover bid by Dutch competitor Dockwise.
Oslo-quoted Fairstar on Tuesday issued a securities filing in which it included a research report by ABG Sundal Collier and SEB Enskilda that found its adversary’s offer of NOK 9.30 ($1.52) per share to be unfair.
"Based on public information and information made available to us by Fairstar and subject to the terms and conditions set out in this opinion, it is our opinion, as of the date hereof, that the mandatory offer put forward by Dockwise is not fair from a financial point of view," they wrote.
