The four board members said that since Remoy made themandatory bid last month at NOK 52 ($8.53) per share for the 21.39% he does not own, the shares havebeen trading at between NOK 52.25 and NOK 69.50 in Oslo.
“With this in mind, the board of directors does not recommendits shareholders to accept the mandatory offer,” they added.
Shareholders have until 16 January to make up their mind.
