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Re: TRADEWINDS -DHT enters VLCC 'top league' with BW dealAs a DHT holder .... Grrrrr! Wonder if someone is trying to bust the deal? Or perhaps people receiving DHT shares as a result of the deal are more interested in immediate cash so sell DHT short now and cover with the issued shares? Price action seems odd. DHT says that they are buying vessels at good prices, they are increasing their fleet size by 50% so their market share goes up, and per ship operating costs should go down. All value inducing moves. And the BW shareholders see the deal as worth doing with the DHT shares they are to receive being valued at above the current selling price of DHT. Either both managements are crazy or the market action today is strange. From the PR cited in message 10929: "Doug Mavrinac, an analyst at Jefferies, forecasts a profit of $9.26m profit for DHT this year, rising to $68.22m in 2018. He noted the company’s cash balance will stay above $100m and net debt to cap will stay below 40% for the forseeable future. “As a result, DHT will continue to have one of the strongest balance sheets in the crude tanker industry,” he said. “Post transaction, we believe DHT's size (both in terms of market cap and number of vessels) will protect it from future unwanted takeover bids similar to the Frontline offer last month,” he said. “Additionally, with the implied value of the equity issuance at $5.37 per share, the company's NAV now stands at $5.22 per share, its highest level of 2017.” " |
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Msg # | Subject | Author | Recs | Date Posted |
10934 | Re: TRADEWINDS -DHT enters VLCC 'top league' with BW deal | hooloovoo | 1 | 3/24/2017 6:41:00 AM |