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You are here: Home → Archive → 2009 → November → Weekly Edition 19th November 2009 → Smit and Boskalis agree to merge

Smit and Boskalis agree to merge

by Roger Hailey, London — last modified Nov 19, 2009 02:41 PM

DUTCH maritime services operators Royal Boskalis and Smit Internationale are set to merge in a €1.4bn (US$2.1bn) deal that ends nearly two years of cat-and-mouse takeover attempts.

Dredging giant Royal Boskalis, whose earlier €1.1bn takeover bid for Smit was resoundingly rejected in September 2008, already owns 26.4% of its Dutch salvage, towage and heavylift compatriot and will now pay €60 in cash for each outstanding share.

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