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Announced

Euronav terminated a $4.2bn merger with Frontline.

Financials

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Transaction Value£3,212m
Consideration TypeOrdinary Shares
Capital Owned-
Capital Bid For100%
EV/Sales8.8x
EV/EBITDA76.35x
Share Price Premium-
One Off Charge-

Tags

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Cross Border

oil and gas

Marine Transportation

Public

tankers

shipping

Acquisition

Merger

Bermuda

Single Bidder

Friendly

Majority

Failed

Synopsis

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Euronav, an independent tanker company, terminated a $4.2bn merger with Frontline, an independent tanker company. "We regret that we could not complete the merger as envisaged in July 2022, as that would have created the by far largest publicly listed tanker company," Lars Barstad Frontline CEO.

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