Dockwise of the Netherlands looks set to be combined with Boskalis after the Board of Directors at the former company gave their support to a mandatory cash offer by the latter for all its issued and outstanding common shares.

The Dockwise Board said that after assessing the offer and the proposed combination, including talks between the two CEOs of each company on the future strategy and business for Dockwise, market synergies, the brand name of Dockwise and Fairstar, crewing and vessel management and other issues, it recognised the “strategic merits” of the combination and had recommended the offer.

The combination, it said, fits within the strategy of Dockwise to expand in the offshore transport and installation as well as the logistical management market, and is aligned with the focus of Boskalis on the strengthening and expansion of its position in the offshore energy market. The final offer price was Euros 18.50 per share.