[Poker chip image by Eyestix Studio on UnSplash]
Within days of John Fredriksen’s Frontline plc asserting that it was pulling out of its deliberate tanker mega merger cope with Euronav, Fredriksen-associated Famatown Finance Ltd filed a notice with the SEC disclosing that it had acquired 5,127,000 extra shares in Euronav. As of Friday, that introduced the holding of Famatown and associated firms in Euronav to 40,998,478 shares or 20.31% of the shares excellent (excluding treasury shares).
All this has analysts in a “what will Fredriksen do next?” dither. Did he simply take a bargain-hunting benefit of the autumn within the Euronav share worth following the Frontline walkaway? Or is he increase a stake large enough to dam any effort by the Saverys household to merge Euronav into their Compagnie Maritime Belge (CMB)?
Merger and acquisition drama lovers, keep tuned!
