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Tanker takeover talk heats up
Trading of Ardmore Shipping (NYSE: ASC) shares surged to over 10 times normal volume on May 26. Shares closed up 18%. Industry publication Tradewinds attributed the jump to takeover talk. A banking source speaking to FreightWaves agreed. He was getting a lot more client calls than usual about Ardmore over the prior week.
The mystery of that late-May rumor is solved — probably. Loose lips appear to have been whispering about Hafnia Tankers (Oslo: HAFNIA), which is 65% owned by the BW Group.
Hafnia...
https://www.freightwaves.com/news/tanker-takeover-talk-heats-up