Dutch dredging company Boskalis will not increase bid for Smit
Company News - February 5, 2010
Dutch dredging contractor Boskalis has said it will not improve on its Euros 1.15 billion (US$1.6 billion) offer for Smit International, despite discontent among some Smit shareholders.
As Reuters reported, earlier this week a group of Smit investors, holding a total of 7.2 percent in the company, sent a letter to Smit management lamenting its endorsement of Boskalis's offer of 60 Euros in cash per Smit share, plus the target company's planned 2009 dividend, as too low.
"The price of 60 Euros in cash per share ex-dividend is the price at which the offer will be launched," Royal Boskalis Westminster NV spokesman Martijn Schuttevaer said on Thursday.
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