Subsea 7 withdrew its offer to acquire DOFG for $1.04bn.

Subsea 7, a Luxembourgish-domiciled subsea engineering, construction and services company serving the offshore energy industry, withdrew its offer to acquire DOFG, an integrated offshore services company, for $1.04bn. The board of DOFG concluded that NOK35 per share is below the equity valuation expectation of the board and its current shareholders.