Sparks commentary - Ocean Wilsons Holdings

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Sparks - Ocean Wilsons Holdings

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Ocean Wilsons (LON: OCN) – Tender offer and potential combination
Published by Andy Murphy

Following an announcement on 4 June, Ocean Wilsons today announced the terms of its tender offer, which will return up to £123m to shareholders at a range of potential prices, all at a premium to either the three-month volume weighted average price of 1,378p/share or a premium to the 1,485p/share price at the latest practicable date. Shareholders have the choice to subscribe all, some or none of their holding to the tender offer. Separately, it was announced that Ocean Wilsons is the subject of a potential all-share combination with Hansa Investment Company by way of an acquisition of the entire issued share capital of Ocean Wilsons by Hansa. The price would be set with reference to the relative valuation of Hansa’s and Ocean Wilsons’ adjusted net assets.

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