AccessMyLibrary provides FREE access to over 30 million articles from top publications available through your library.
Create a link to this page
Copy and paste this link tag into your Web page or blog:
DANISH FIRM MOVES FORWARD ON ADSTEAM MARINE BID.
SYDNEY, July 3 Asia Pulse - Shipping group Adsteam Marine Ltd (ASX:ADS) has recommended shareholders accept an all-cash takeover bid from Danish company SvitzerWijsmuller.
Under the offer, which values Adsteam at $A693 million ($US510.78 million), shareholders will receive $2.54 per share.
Adsteam chairman Bruce Corlett said SvitzerWijsmuller's cash offer represented good value and was in the best interests of Adsteam shareholders.
"We recommend that Adsteam shareholders accept the offer from SvitzerWijsmuller once the regulatory conditions to the offer have been satisfied or waived and in the absence of a higher offer," he said.
"The offer will allow Adsteam to grow within a successful, global business."
SvitzerWijsmuller is an international towage and salvage company based in Copenhagen with approximately 2,500 employees and operations in 35 countries.
The company, which is a subsidiary of Danish business consortium A.P. Moller-Maersk, reported turnover of $US355 million ($A481.65 million) last year.
- Liverpool will lose competition through Svitzerwijsmuller/Adsteam merger.
- Press release article from: M2 Presswire December 5, 2006 700+ words
...competition through Svitzerwijsmuller/Adsteam merger(C)1994...acquisition by SvitzerWijsmuller A/S of Adsteam Marine Ltd would...Alan Young. 2. SvitzerWijsmuller A/S is a Danish...service company. Adsteam Marine Ltd is...
- Anticipated acquisition by SvitzerWijsmuller A/S of Adsteam Marine Limited;...
- Press release article from: M2 Presswire August 31, 2006 700+ words
...Government: Anticipated acquisition by SvitzerWijsmuller A/S of Adsteam Marine Limited; Competition Commission...referred the anticipated acquisition by SvitzerWijsmuller A/S of Adsteam Marine Ltd to the Competition Commission...
- DANISH SHIPPER EXTENDS FRIENDLY TAKEOVER BID FOR ADSTEAM MARINE.
- News wire article from: AsiaPulse News September 21, 2006 700+ words
...Danish shipper SvitzerWijsmuller will allow Adsteam Marine Ltd (ASX...further concession, SvitzerWijsmuller has removed Adsteam's $6.9 million...higher offer, Adsteam shareholders accept the SvitzerWijsmuller offer after the...
- DANISH CO'S TAKEOVER OF ADSTEAM REFERRED TO UK REGULATOR.
- News wire article from: AsiaPulse News September 1, 2006 700+ words
...acquisition of Adsteam by SvitzerWijsmuller to the UK Competition Commission," Adsteam said in a statement. "SvitzerWijsmuller's offer to acquire...recommendation to Adsteam shareholders." SvitzerWijsmuller's bid, which...
- ADSTEAM POSTS 22PCT LIFT IN 1H EARNINGS.
- News wire article from: AsiaPulse News February 22, 2007 700+ words
...one asset sale. SvitzerWijsmuller today said it intended to sell Adsteam's Liverpool operations...been received, the Adsteam board recommends...shareholders now accept the SvitzerWijsmuller offer, without delay," Adsteam said. All Adsteam...
- AUSTRALIA'S ADSTEAM SAYS Q1 EARNINGS UP ON LAST YEAR.
- News wire article from: AsiaPulse News November 7, 2006 700+ words
...in July valuing Adsteam at $A693 million...associated with the SvitzerWijsmuller bid notwithstanding...associated with the SvitzerWijsmuller offer and one...Mr Corlett said Adsteam and SvitzerWijsmuller are continuing...
- ADSTEAM PLEASED WITH UK REGULATOR'S FINDING ON TAKEOVER.
- News wire article from: AsiaPulse News December 6, 2006 700+ words
...shipping giant SvitzerWijsmuller to get its...tug operator Adsteam Marine (ASX...with the Adsteam board, has...accept the SvitzerWijsmuller offer, said...divested - either Adsteam's or SvitzerWijsmuller's - is up...
- AUSTRALIA'S ADSTEAM LIFTS YR NET PROFIT 15 PCT.
- News wire article from: AsiaPulse News August 24, 2006 700+ words
...Sydney-based Adsteam - the target...shipping company SvitzerWijsmuller - today reported...months. Adsteam confirmed that SvitzerWijsmuller's $A693...outcome of SvitzerWijsmuller's bid...proceed, Adsteam plans to...