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Euronav Tender Offer

Posted on 3/4/24 at 7:43 pm
Posted by imjustafatkid
Alabama
Member since Dec 2011
62798 posts
Posted on 3/4/24 at 7:43 pm
So I have a small number of shares in Euronav, which is currently undergoing a hostile takeover by CMB and will be moving from the oil tanker business to the green energy tanker business. This isn't like a Tesla, this is a company that makes hydrogen-diesel hybrid ships and full hydrogen ships. Euronav has sold all of its oil tankers to Frontline as part of the deal.

This process allows me a tender offer that will net me $10 a share in profit from what I paid for the stock, which I'm leaning toward taking.

My question is this: What are the board's thoughts on "clean energy" stocks like these? My feeling is this is all garbage and not sustainable long-term, but I'm wondering if anyone else has any investments in these sorts of companies and is making money on them. I'm wondering if anyone can convince me that this is an opportunity I should keep.

Here's a press release about the sale for more info: LINK
This post was edited on 3/4/24 at 7:43 pm
Posted by imjustafatkid
Alabama
Member since Dec 2011
62798 posts
Posted on 3/11/24 at 1:26 pm to
Well I think I'm going to accept the tender offer. I can't find anyone who is super high on these green energy companies.
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