Frontline has seen a second takeover offer for DHT Holdings rejected but has boosted its fleet with the addition of two VLCC resales at a new low price-point.
The John Fredriksen-led company saw an initial bid for DHT rejected and today said a second and final paper proposal valuing DHT at $5.4 per share had been knocked back.
Robert Hvide Macleod, chief executive officer of Frontline Management, said in a statement: “As DHT's largest shareholder we are surprised that DHT's board has declined our repeated attempts to discuss a business combination that we believe is clearly in the best interest of all shareholders.
“We
