Belgian tanker owner Euronav is hailing a decision by the leading independent shareholder proxy advisor to back its merger with Frontline.

The New York and Brussels-listed company is trying to fight off a bid by its leading shareholder, the Saverys family, to combine Euronav with the family’s CMB.Tech clean shipping operation instead.

Investors will vote on a new supervisory board on 19 May, with CMB proposing three new directors to win control.