I Squared has change of hearts and drops offer to acquire Wilson Sons

Port operator Wilson Sons announced on Wednesday (23) that it received a letter from I Squared, in which the asset manager confirmed it would no longer pursue or launch a voluntary public offering to acquire the company.

Earlier this week, Ocean Wilsons, the company’s controlling shareholder, finalized a deal with shipping giant MSC to sell its stake in Wilson Sons for R$4.35 billion. This development had prompted concern from I Squared, which had previously expressed interest in making a competing offer by the end of the month.

Prior to withdrawing from the bid, market speculation suggested that I Squared might make a higher bid than MSC and potentially reenter negotiations.

Source: Valor Econômico

Original reporting available at: https://valor.globo.com/empresas/noticia/2024/10/23/i-squared-muda-de-ideia-e-descarta-oferta-voluntria-para-aquisio-da-wilson-sons.ghtml

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