By Ole Petter Skonnord OSLO, June 26 (Reuters) - Oslo-listed oil tanker firm Frontline has abandoned its pursuit of New York-listed rival DHT Holdings and is not working on any alternative acquisitions, Frontline's CEO told Reuters on Monday. DHT last month rejected a fifth takeover proposal from billionaire shipping tycoon John Fredriksen's Frontline, calling the $500 … [Read more...]
Marshall Islands Court Dismisses Frontline’s Attempt to Stop DHT-BW Group Deal
OSLO, June 19 (Reuters) - The High Court of the Marshall Islands has dismissed with prejudice a lawsuit brought by tanker firm Frontline to stop rival DHT selling a major stake to shipper BW Group, DHT said on Monday. Frontline, which according to Thomson Reuters Eikon data holds a 10.3 percent stake in DHT and is controlled by shipping tycoon John Fredriksen, has been … [Read more...]
Fredriksen Expects Rise In Storage Of Oil On Tankers
by Ole Petter Skonnord (Reuters) Tanker firm Frontline, controlled by billionaire investor John Fredriksen, expects a growing number of supertankers to be used for storing crude in anticipation of higher oil prices, its chief executive told Reuters on Friday. While none of Frontline's own vessels are currently used for this purpose, independent shipbrokers estimate that … [Read more...]
Marshall Islands Court Rejects Frontline’s Complaint Against DHT-BW Offshore Deal
June 7 (Reuters) - Tanker firm DHT Holdings said a court in the Marshall Islands rejected Frontline Ltd's lawsuit against DHT selling a major stake to BW Group . DHT last month rejected a fifth takeover proposal from shipping tycoon John Fredriksen's Frontline, calling the $500 million all-share bid "woefully inadequate". DHT said on Wednesday that the court cited … [Read more...]
DHT Rejects Another Bid by Rival Frontline
OSLO, May 7 (Reuters) - Tanker firm DHT Holdings rejected on Sunday a fifth takeover proposal from shipping tycoon John Fredriksen's Frontline, calling the $500 million all-share bid "woefully inadequate". Frontline's plan to form the world's largest private oil tanker group was first revealed in January when DHT said it had received an unsolicited offer, which it later … [Read more...]
Frontline Takes Legal Battle Over DHT to Marshall Islands
OSLO, April 27 (Reuters) - John Fredriksen's Frontline is switching its legal battle for control of tanker operator DHT Holdings from New York to the tiny Marshall Islands after making a fifth offer for the company this week. Frontline, controlled by Norwegian billionaire Fredriksen and owner of a 14.5 percent stake in DHT, has over the past year tried to acquire all of … [Read more...]
Frontline Launches New Offer for Rival DHT
OSLO, April 26 (Reuters) - Frontline has made a fifth offer for tanker operator DHT Holdings and given its rival 24 hours to reconsider a deal which billionaire John Fredriksen hopes will forge the world's largest tanker company. Over the past year Fredriksen's Frontline, which owns 14.5 percent of DHT, has tried on several occasions to acquire all of DHT's shares. Its … [Read more...]