June 20, 2008
STX moves on rest of Aker Yards
Korea's STX Shipbuilding is moving ahead with plans to acquire the rest of Aker Yards ASA.
It already owns 39.23% of the share capital.
Today, after the close of trading on the Oslo Stock Exchange, investment bank ABG Sundal Collier said it had received an order from STX Norway AS ( STX), to acquire a minimum of 2,000,000 (1.76%) and maximum 9,000,000 (7.92%) shares in Aker Yards ASA at NOK 63 a share (an 11.5% premium on today's closing price.
Provided its offer is successful, STX will follow it up with a mandatory offer for all shares outstanding in Aker Yards ASA.