Taylor Maritime makes takeover offer for Grindrod ShippingTaylor Maritime makes takeover offer for Grindrod Shipping
Taylor Maritime Investments has launched a takeover offer for Singapore-based dry bulk shipowner Grindrod Shipping.

London Stock Exchange-listed Taylor Maritime has launched a $26 per share takeover offer for all of the shares it does not currently own in Nasdaq and Johannesburg-listed Grindrod Shipping.
The offer takes the form a $21 per share cash payment and a $5 per share special cash dividend.
Following the offer the board of Grindrod Shipping said they had entered exclusive discussions with Taylor Maritime, however, definitive terms of the transaction are yet to be agreed between the two parties.
Taylor said it believed the offer gives, "significant value and certainty to Grindrod's shareholders at a time of weakening global economic activity and declining dry bulk rates".
Taylor Maritime currently holds a 26% stake in Grindrod Shipping having agreed to acquire a 22.6% shareholding for $77.9m late last year.
As of September 2021 Grindrod owned a fleet of 24 dry bulk vessels in the handy, supramax and ultramax sectors.
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