The Oslo-listed offshore vessel owner said just 2,166 shares had been tendered by minority investors at NOK 52 each.
If all the shares had been pledged, he would have had to pay about $37m.
The board had recommended shareholders reject the deal as it failed to reflect recent price rises that saw the stock reach as much as NOK 69.50.
Remoy's Remy AS now owns 13.49m
