Share offer is rejected by Salvesen
29th June 2000, Page 10
29th June 2000
Page 10
Page 10, 29th June 2000
— Share offer is rejected by Salvesen
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is Christian
Salvesen has rejected a 1477m offer which would have returned the company to private ownership.
The offer—which was worth 180p a share—was made earlier this month by a consortium led by Swedish investment firm AR Custos, when the Salvesen share price was 1215p. AB Custos, which bought a 10.2% share in Salvesen last August, hired NM Rothschild to advise on the deal.
Salvesen claims that its current strategy "remains the optimal route for delivery of value to shareholders".
The company says It wants to grow organically and through acquisitions on the Continent. This plan was questioned by AB Custos, which believes that Salvesen lacks the necessary financial backing. in 1996 Salvesen rejected a cash-andshares offer from Hays.
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