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International Tankers and Gas Finance

Ardmore rejects Hafnia merger proposal

Hafnia has proposed an all-stock transaction valuing Ardmore 70% higher than the June 12 stock price, to form a 210-vessel leading product tanker operator

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The move suggests Hafnia is pursuing companies for consolidation and sees an Ardmore combination as an entry path to exposure to New York-based investors and greater liquidity

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This copy is for your personal, non-commercial use. For high-quality copies or electronic reprints for distribution to colleagues or customers, please call UK support at +44 (0)20 3377 3996 / APAC support at +65 6508 2430

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