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Stock impact report

BW LPG raises offer for Dorian LPG [Reuters]

Dorian LPG Ltd. (LPG) 
Last dorian lpg ltd. earnings: 8/7 06:00 am Check Earnings Report
Company Research Source: Reuters
BW LPG raises offer for Dorian LPG | Reuters Reuters Staff 2 Min Read OSLO, July 9 (Reuters) - Norway’s BW LPG, the world’s largest liquid petroleum gas shipper, raised its offer to buy rival Dorian LPG on Monday after its first advance was rebuffed. BW offered Dorian shareholders 2.12 BW LPG shares for each Dorian share, up from 2.05 BW LPG shares in an initial offer made on May 29. BW LPG said the offer represents a value of $8.67 per Dorian share. The stock closed at $7.98 in New York on Friday. The total equity value of the new transaction is about $479 million, with a total enterprise value of about $1.1 billion, including the assumption of net debt. BW LPG said it had held conversations with “many shareholders of both companies” and that the sentiment had been “overwhelmingly positive with many shareholders expressing surprise at Dorian’s refusal to engage”. “Although the company remains open to engaging in dialogue with Dorian, BW LPG intends to nominate independent, highly qua Show less Read more
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