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Euronav and Gener8 settle class action suits for merger

New York-listed tanker owners Euronav and Gener8 have removed a legal hurdle for their planned tie-up by the end of June by revealing more details in the negotiation process. An Asian firm that presented a higher offer was rejected by the Gener8 board owing to uncertainty in obtaining government approvals.

Merger plan to create the world’s largest crude carrier has removed a legal hurdle, but Gener8 director Nicolas Busch is yet to commit his support to the idea

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