Dutch Maritime, Dredging Cos. To Merge In €1.1B Deal

Law360, New York (November 12, 2009, 2:50 PM EST) -- Dredging and maritime services provider Royal Boskalis Westminster NV announced on Thursday that it will purchase Smit Internationale NV, a salvage company, for €1.1 billion ($1.64 billion) in a move intended to bolster Boskalis' position in the maritime oil and gas terminal arena.

The companies said they had reached an agreement in principle on the full merger, under which Boskalis would pay €60($89) a share for all outstanding shares in Smit. Both companies are based in the Netherlands. The transaction is expected to be completed in...
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