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Gener8 Maritime -9% as Frontline abandons M&A pursuit

Jun. 26, 2017 9:25 AM ETGener8 Maritime (GNRT) StockFRO, GNRTBy: Carl Surran, SA News Editor10 Comments
  • Gener8 Maritime (NYSE:GNRT) -8.8% premarket as Frontline (NYSE:FRO) says it is walking away from the M&A market.
  • A deal with GNRT would have created the world’s largest fleet of supertankers, with 43 of the largest crude carriers.
  • FRO CEO Robert Hvide Macleod says the company will continue to expand its fleet of crude tankers and has access to borrow money at attractive rates in financial markets but is rejecting takeovers for now.

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