A tanker mega merger is in the works. Frontline Ltd, (NYSE: FRO) and Euronav (NYSE: EURN) have signed a term sheet agreeing a potential stock-for-stock combination of the two companies. Based on an exchange ratio of 1.45 FRO shares for every EURN share, it would resulting in Euronav shareholders owning approximately 59% of the combined group and Frontline shareholders owning 41%.
If the deal goes through, the combined group would continue under the name Frontline and would continue to operate...
https://www.marinelog.com/legal-safety/shipping/tanker-giants-frontline-and-euronav-to-merge/