KNOC re-stated on Thursday morning its intention is not to raise its offer for Dana and that Dana’s defence document did not change its view on the value of the target. In accordance with the withholding of a recommendation by the board of Dana, KNOC said it waived its right to increase the offer with such a recommendation or in light of material new information. It reserved to increase its offer price should a rival bid emerge. The Board of Dana reiterated its advice to shareholders to read the issued defence circular and reject the offer by KNOC.
On Monday BW Offshore announced that it would extend the offer period for its voluntary tender offer for the shares of Prosafe Production a second time to end at 17.30 today.
