Watch: This Is Why Biden’s $2 Trillion Infrastructure Plan Will Fail
In the United States, we have a problem that’s so BIG and obvious that even Elon Musk can’t see it. Our highways are broken, our streets are clogged with traffic,...
OSLO, Jan 31 (Reuters) – Tanker firm DHT Holdings estimated its net asset value at $5.7 per share on Tuesday, above a non-binding all-share offer made by competitor Frontline , which is currently worth about $5 per share.
Frontline, controlled by shipping tycoon John Fredriksen, made an unsolicited offer for its rival during the weekend to acquire all outstanding shares in U.S. listed DHT.
On Tuesday’s DHT’s management generally refrained from making further comments on the Frontline bid during an earnings call.
During the call, DHT’s co-CEOs Trygve Munthe and Sveinung Moxnes Harfjeld said they expected a “choppy” market for crude oil tankers in 2017 but added the firm has a very good downside protection in that the company has low cash break-even rates. (Reporting By Ole Petter Skonnord, editing by Terje Solsvik and Gwladys Fouche)
(c) Copyright Thomson Reuters 2017.
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