FrontNav — a tanker giant 20 years in the making?
John Fredriksen’s 10% shareholding purchase into rival Euronav has sparked merger speculation but talks between the two tanker giants date back to 1999 when initial plans for a merger were first discussed
By purchasing shares ahead of any potential merger, Mr Fredriksen’s strategy looks like a familiar play of creating volatility around the share price. It remains to be seen whether he will follow through on his previous tactic of pulling out at a profit and then wait to see what happens between now and the next Euronav AGM, or push ahead with another round of M&A discussions
