General – Public Offer
This morning, HAL Holding N.V. (HAL) announced an intended voluntary public offer of EUR 32.50 per ordinary share for all issued ordinary shares in the capital of Royal Boskalis Westminster N.V. (Boskalis).
On 8 March 2022, HAL informed Boskalis of its intentions.
The Board of Management and Supervisory Board of Boskalis will carefully consider all aspects of the proposed offer in accordance with their fiduciary duties. Boskalis will update the market if and when appropriate.
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 EUR 4.2 billion.
The offer price represents a premium of approximately 28 per cent relative to the closing price of EUR 25.30 per ordinary share of Boskalis as of 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”.