Idan Ofer’s Quantum Pacific Shipping has followed up its purchase of nearly 5% of the shares in Gener8 Maritime with a proposal to combine the companies.
Ofer’s initial approach has been perceived as “underwhelming” by the New York-listed company’s management, according to a source with knowledge of the situation. However, an immediate cold reaction is unlikely to have come as a shock to a seasoned deal-maker like Ofer, who would have expected some opposition to any takeover approach.
