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Frontline Ltd. (0REH.L)
YHD - YHD Delayed price. Currency in USD
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At close: 06:07PM EDT
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And we are back to the 7s again. Time to accumulate folks.....
no merger right now.
probably first an offer for 1.4 fro for an euronav by fresh capital (more shares)
only with 50% of shares obtained.
In that case, i guess they will have to bid for all shares ...
I think CMB could offer more (in fact, as hydrogen/ammonia specialist, they need infrastructure: euronav could help, by ships and by funding...) This gives, not necessarly for shareholder, but surely for CMB an additional synergy. (fast creation of hydrogen/ammonia infrastructure, helpfull for their tech.)
Now, at 10$ i think offer is not high enough to recieve eurn...As expectations for 2023-4-5 are very high: cash could easaly excess 1 billion a year ( tce modern vlcc at 60 000$/day )for euronav. CMB has also bocimar containers... good cashflow actually and offering 15$-18$ could be considered (cmb cash+eurronav cash+ cashflow current year... Could frontline reconsider CMB partnership? yes, but not yet!! as plan B
Frontline Shares Drop 14% After Buying 6 Million Euronav Shares
10:18am ET 5/31/2022 Dow Jones
Mentioned in article
By Chris Wack
Frontline Ltd. shares were down 14% to $9.88 Tuesday after the company said it is buying 6 million shares in Euronav N.V., representing almost 3% of the outstanding shares in a privately negotiated share exchange transactions with certain shareholders of Euronav N.V.
The shareholders of Euronav N.V. will receive a consideration in shares of Frontline, the company said.
Frontline said it will issue a total of 8.3 million new shares as a result of these transactions, equivalent to an exchange ratio of 1.4.
Frontline said it will be entitled to the declared 6 cent dividend to be paid by Euronav on the acquired shares on June 8.
Settlement is expected to take place on or about Wednesday by delivery of existing shares through a share lending arrangement with Frontline's main shareholder Hemen Holding Ltd.
Following completion of the issue of the new Frontline shares, Frontline said it will have a total of 211.9 million shares issued and outstanding.
Buy in the 7s, sell in the 10s. Wash, rinse, and repeat......
Why it down?
Why are they buying shares of Euronav N.V. ?
What's going on?
Most Russian oil is going off line in the pipes and must be motorboated, if moved at all. Nearly all OPEC oil is done so.
Market down huge , FRO had a nice day ! May it continue
Earnings in line ?
When is earnings date?
Buying the Uuronav shares was a sneaky way for both of them to dilute their shareholders. Why do you have to issue new shares to buy another companies shares? Am I wrong?
Let’s go !!!!!
When will dividends be resorested?
8 minits of trading... 250 000 shares, seen 2/6 10::00 edt
i'm neutral... eurn at propose merge rate cheaper
after merge, reasonable but price influenced by biddings.
Shorts tried earlier to kill this stock but now look at the volume. I predict a short squeeze is coming.
Added. Eat that.
STRONG MOVE !!!
What a horrible investment here! Fat and lazy FRO never moves much
If prices for oil get to the 2006-2008 level, where will tanker stocks go, surely not as high as then??
This is one crazy stock !!!
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