Boskalis receives buyout offer from HAL

HAL Holding has announced an intended all-cash voluntary public offer of €32.50 per ordinary share for all issued ordinary shares in the capital of Royal Boskalis Westminster N.V.

HAL has been a shareholder of Boskalis since 1989 and currently holds 46.2 per cent of the issued Boskalis shares.

The offer price per share represents an implied equity value for 100 per cent of Boskalis on a fully diluted basis of EUR4.2 billion.

The offer price represents a premium of approximately 28 per cent relative to the closing price of EUR25.30 per ordinary share of Boskalis as per 9 March.

HAL said that it “supports Boskalis’ existing strategy, has no intention to change its management or governance, and is committed to the long-term interests of Boskalis and its stakeholders, including its employees.”

The investor informed Boskalis of its intentions last week.

According to Boskalis, their Board of Management and Supervisory Board will carefully consider all aspects of the proposed offer in accordance with their fiduciary duties.

The company plans to update the market if and when appropriate.