Avance Gas has entered the final day of its takeover offer for Aurora LPG.
The hostile bid has been complicated by the emergence of BW LPG as a major shareholder in the target.
Aurora’s board has advised against the offer, suggesting it under values the company and its liquidity will improve as newbuildings arrive next year.
Erik Nikolai Stavseth of Arctic Securities said in a report today that Aurora has also suggested it is willing to sell ships to draw out underlying values.
Avance
