Fincantieri has refused to increase its offer for fellow shipbuilder Vard Holdings setting up a potential stalemate with investors.
The Italian shipbuilder said it would not raise its SGD 0.24 (17 US cents) per share offer, according to a regulatory filing to the Singapore Exchange.
Fincantieri said this was its “final offer” for the outstanding shares in the Norwegian shipbuilder it is looking to take private.
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