Ports and Terminals

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

Oct, 24, 2024 Posted by Gabriel Malheiros

Week 202441

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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