John Fredriksen-backed Frontline has proposed an even larger merger with DHT Holdings, offering to take over the New York-listed tanker owning rival along with all of the 11 VLCCs it has purchased from BW Group.
But the thrice-spurned suitor is not sweetening the pot, making the same offer of 0.8 shares for every DHT share that it put forward last week when it sought to block DHT's deal with BW by suing both companies in a US court.
