BW LPG (BWLPG NO) 2Q18 Result Update
On 15 June 2018, Dorian declined BW LPG’s offer made in May 2018 to combine in an all-stock transaction, stating that the offer undervalued Dorian. In response, BW LPG has made another offer to Dorian, proposing to increase the exchange ratio from 2.05 to 2.12 per share of Dorian, with other terms remaining constant. Furthermore, BW LPG has nominated three independent directors to stand for election at Dorian’s annual general meeting. Dorian’s board is evaluating the revised proposal and the nomination of three independent directors named by BW LPG. As mentioned earlier, in the event that the merger is consummated, the combined entity will control ~25% of all VLGCs on the water today.
Drewry, since 1970, has been providing research and advisory services on the global Maritime and Shipping industries and has established itself as a firm with long history of credibility and expertise on various aspects of the maritime industry. Leveraging this in-depth market knowledge and understanding, we have extended our offering to deliver a unique, independent investment research service on globally listed companies operating in the maritime industry. Under the brand Drewry Maritime Equity Research and in accordance with the FCA, DMER led by Rahul Kapoor and his team, offers fundamental analysis on listed companies. DMER analysts have access to one of the most up-to-date, comprehensive and reliable sources of market insight and research data available today. By combining these market-leading resources with seasoned sector expertise and commercial awareness, we are able to offer a highly differentiated and comprehensive investment research service to prospective investors in listed maritime companies. We look at globally listed companies within the following sectors: Port Operators, Container Shipping, Container Manufacturing & Leasing, LNG Shipping, Dry Bulk Shipping and Tanker Shipping. Combine in-depth sector expertise with financial analysis focusing on over 50 stocks globally.
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