The merger of Frontline and Euronav would have created a company with a fleet of 69 VLCC and 57 Suezmax vessels, and 20 LR2/Aframax vessels, with a market cap of $4.2bn based on market values as of April 2022.
April 7, 2022 – Frontline and Euronav sign term sheet for merger agreement.
July 11, 2022 – Frontline and Euronav agree all-stock merger.
January 10, 2023 – Frontline unilaterally terminates merger agreement.
January 10 – Euronav says it will examine the termination and reserves its rights and actions.
January 12 – Euronav says it may take legal action over the merger termination
January 18 – Euronav seeks emergency arbitration to halt merger termination, CMB seeks Euronav shareholder meeting to replace supervisory board.
January 30 – Euronav files for arbitration on the merits of Frontline’s merger termination move.
February 2 – Euronav earnings call dominated by merger talk, company tight lipped ahead of arbitration results.
February 7 – Euronav schedules shareholder meeting for CMB’s board wipe proposals.
February 7 – Arbitrator dismisses Euronav emergency arbitration.
February 9 – Frontline-allied Famatown announces candidates for Euronav supervisory board, John Fredriksen and Cato H. Stonex.
February 13 – Euronav proposes new board composition.
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