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MSC launches $700m takeover bid for Gram Car Carriers

by admin

Liner giant Mediterranean Shipping Co (MSC) has moved to take over Gram Car Carriers (GCC) in a potential deal that values the world’s third-largest car carrier tonnage provider at about NOK7.6bn ($700m).

The offer of NOK263.69 per share in cash has been made via MSC subsidiary Shipping Agencies Services (SAS) and represents a premium of 28.3% to GCC’s stock price on April 23.

The board of the Oslo-listed GCC, which reported a revenue backlog of $794m at the end of the first quarter, has unanimously resolved to recommend…

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