Euronav (CMBT) has released an update.
Euronav NV has announced that the Market Court in Belgium has mostly dismissed claims by FourWorld Capital Management regarding the mandatory public bid for Euronav’s shares by CMB NV. The court did recognize special benefits given to Frontline in vessel pricing, calculated at USD 0.52 per share, but has not mandated an increase in the bid price. The FSMA retains the discretion to adjust the price, and if an increase is directed, CMB has pledged to compensate shareholders who participated in the bid.
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