BWLLF - Dorian Merger: We Like - With Caveats
Overview
Dorian LPG (LPG) has delayed its financial results beyond the normal cycle, and it now appears we have an answer as BW LPG (OTCPK:BWLLF) has announced an 'unsolicited' offer for Dorian. BW offered 2.05x shares per share of Dorian, offering a slight premium to recent share prices (i.e. approximately $7.70, 11% upside). Dorian has acknowledged receipt, but has yet to provide a formal response.
Our Response
As considerable investors in Dorian via Value Investor's Edge, I am personally very bullish on the idea of industry consolidation. I welcome this