BW LPG Increases Takeover Offer for Rival Dorian LPG

The raised offer comes after Dorian LPG's Board declined BW LPG's initial unsolicited offer on May 29, saying the offer undervalued Dorian's fleet of "substantially younger, more fuel-efficient ships as well as Dorian's superior commercial performance." OSLO, July 9 (Reuters) - Norway's BW LPG, the world's largest liquid petroleum gas shipper, raised its offer to buy rival … [Read more...]

BW LPG Makes $1.1 Billion Offer to Buy Dorian LPG

OSLO, May 29 (Reuters) - The world's largest liquid petroleum gas (LPG) shipper, Norway's BW LPG, is offering to buy competitor Dorian LPG in a $1.1 billion all-stock deal in an effort to boost its earnings in a weak market, it said in a statement on Tuesday. Dorian shareholders will receive 2.05 BW LPG shares for each Dorian share, equal to $7.86 per share, a premium of 13 … [Read more...]

Dorian LPG Debuts on the NYSE

LPG shipping firm Dorian LPG listed on the New York Stock Exchange last week. Since Dorian CEO John Hadjipateras rang the opening bell on Friday morning following their IPO the day before, the company's stock price has remained largely flat and hovering around its IPO price of $19. Last October, the company exchanged 11 newbuild contracts from Scorpio Tankers in exchange … [Read more...]

Scorpio Trades VLGC Newbuilds for Dorian LPG Stake

Dorian LPG Ltd., a pure-play LPG shipping company based in Stamford, Connecticut has entered into an agreement with Scorpio Tankers (NYSE: STNG) to acquire all eleven of Scorpio's Very Large Gas Carrier (VLGC) newbuilding contracts plus a cash contribution of $1.9 million.  In exchange, Dorian will sign over a 30 percent ownership stake in their company. According to a … [Read more...]