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STX takes low road to Aker takeover

STX takes low road to Aker takeover

Oslo: Korean maritime conglomerate, STX, surprised analysts Friday with a lower than expected bid of just NKr63 per share in its mandatory offer for the near 60% outstanding shares of Aker Yards.

The offer is lower than the current trading price of NKr67. Aker's price slumped on the news to NKr64. The offer is valid until August 15.  [21/7/08]

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