Frontline ups deal offer for rival DHT

|About: DHT Holdings, Inc. (DHT)|By:, SA News Editor

DHT Holdings (NYSE:DHT+4.9% AH after Frontline (NYSE:FRO) proposes a larger merger to include all 11 VLCCs already purchased from BW Group in its takeover offer.

FRO says its offer would be effected at an exchange ratio of 0.8 of its shares for each DHT common share.

FRO says the new proposal represents an 18% premium to DHT's volume weighted average price for the 10 days prior to April 21 and a 15.8% premium to the latest 30-day volume weighted average price.