Wilh. Wilhelmsen Holding (Buy, TP: NOK273.00) - WithDrew as expected
The US District Court for the District of Colombia announced on Saturday it would grant the FTC’s motion to block the WWI acquisition of Drew Maritime’s technical arm, prompting WWI to walk away from the deal. We said in our Q1 results review note that we believed the merger was unlikely to be completed. A USD20m termination fee and estimated USD15m legal costs represent costs of ~NOK6.1/share.
DNB Markets is the investment banking arm of DNB Bank ASA and is focused primarily on the Nordic region, as well as internationally on niches such as global shipping, energy and related services, and seafood. DNB Markets offers services in FICC, Equities and Investment Banking advisory from offices in Oslo, Stockholm, London, Singapore and New York. Equity research coverage is offered on c250 Nordic companies. DNB was ranked no.2 in Extel Nordic Research 2017. The DNB Markets’ Credit and FICC Macro & FX Research teams are repeatedly highly rated by Prospera Nordic Institutional Investor Surveys.
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