A strategic review of prospects announced less than a month ago by Oslo-listed bulker owner Belships has yielded rapid results with a $450m tender offer for all shares by a unit of New York-based financial firm EnTrust Global.
The tender announced after the close of trading in Norway on Thursday sees EnTrust unit Blue Northern bidding NOK 20.50 ($1.79) per share for all of the company, with insider shareholders including board members and senior management already pledging their stock in support of the deal.
