Post Reply
1681-1700 of 5364
Anyone here actually vested in this counter?
It's a slimy move by the Italians... but they won't get it at 1.22
Mamma mia, what a lousy offer!!!
When i read its 1.22 i Really feel that they are not sincere to takeover this counter.... $1.22... are they rouge or wat.... Only fools will sell to them at a lost....but then anyone know when is the last day for those thieve to get those shares?
Fincantieri Forks Out $549M for a Majority Stake in STX OSV
Singapore-listed STX OSV, a global builder of offshore support vessels, revealed Wednesday that Italian shipbuilder Fincantieri has acquired 50.75 percent of its shares at a price of USD0.99 (SDG 1.22) per share, totalling $594 million (SDG 730 million).
Fincantieri has also made an unconditional cash offer for the remainder of STX OSV's shares. The offer from the Italian firm will be kept open for 28 days.
" This acquisition marks Fincantieri’s entry into a market segment complementary to its current ones. With 21 shipyards in three different locations, Fincantieri will double its size to become the fifth largest shipbuilder worldwide behind four Korean peers," STX OSV said in its disclosure.
At present, South Korea's Hyundai Heavy Industires in the largest shipbuilder in the world.
OSK Research's analyst, Jason Saw, told Rigzone on Wednesday that he views the sale price as " somewhat low."
" The depressed sale price could be primarily driven by desperation of the STX Group to sell its assets to pare down debts. The STX Group is also looking to sell its shipping unit, STX Pan Ocean, as part of its group restructuring process," Saw said.
Saw is also of opinion that Fincantieri's general offer for STX OSV's remaining shares is unlikely to be successful. Fincantieri needs to own at least 90 percent of STX OSV in order to squeeze the remaining shareholders. Och-Ziff, the second largest shareholder, has a 12 percent stake.
STX OSV employs 9,200 people globally, and operates ten shipyards around the world. The company builds anchor handling tug supply vessels, platform supply vessels and offshore subsea construction vessels. It is also involved in seismic survey.
We wouldn't know within this period how many or let say they already brought 20% within this period, after they announce fully takeover, is there still a window for us to trade or will be given 2nd chance LL to accept their offer back ?
luvkarena ( Date: 23-Jan-2013 15:46) Posted:
|
If they up their offer price for the remaining shareholders to at least $1.60 plus a dividend of $0.1, then I will be happy
Peter_Pan ( Date: 23-Jan-2013 15:48) Posted:
|
If they can acquire 90% of the shares, they will then apply for delisting from SGX. After a certain period, they will enforce compulsory acquistion, meaning you will have to sell the shares to them at the takeover price.
laopokca ( Date: 23-Jan-2013 15:28) Posted:
|
FINCANTIERI COMPLETES THE ACQUISITION OF STX OSV COUPLES WITH NEW CONTRACTS AWARDS WILL MAKE THEIR SHAREHOLDERS VERY PLEASED.
Currently there are 30% shares floating. As long as not more than 20% of the shareholders won't sell the shares at $1.22, the STX OSV shares will remain listed where it's highly likely that STX OSV will remain trading as no one is stupid enough to sell them at $1.22.
laopokca ( Date: 23-Jan-2013 15:28) Posted:
|
Maybe more projects awards.
Likely more announcement coming.
Hi, anyone can explain what if i choose not to sell by the exercise date n when the company stop trading, does it mean i will lose all my money, not a cents back?
No one is selling to the Italians at 1.22 so, please don't sell. They will not be able to delist from the market if they dont reach the threshold.
But I presume the existing retail investors sure won't sell and likely that stx won't go private...if it fails to go private then won't it be still a good counter to hold for dividend?
more likely to be rejected . expect the unexpected.
MtFaber ( Date: 23-Jan-2013 15:16) Posted:
|
Very unique situation. Offeror's price below market price. Maybe shorts covering will enable the price to go up.
Just in case they may succeed to take it private, those shorts will panic. Mmmm interesting.
So disappointing :(. This is the first and last time I'm investing in foreign stocks. Best to stay with Singapore based stocks.
what price to sell?
zzz. meaning no premium given to acquire the remaining shares. Likely unsuccessful
Peter_Pan ( Date: 23-Jan-2013 14:48) Posted:
|