The Netherlands-headquartered HAL has launched its all-cash takeover of Boskalis with an offer that values the heavy lift and marine services contractor at USD4.42 billion.

Boskalis said it is presenting the offer to its shareholders with a “neutral” view on the price. The acceptance period runs from June 27 to September 2, 2022, and HAL expects the deal to complete in the third quarter of this year. 

HAL already owns 46.2 percent of shares issued in Boskalis and should it complete the takeover, has no plan to change the current management or business strategy. The deal remains subject to all relevant regulatory and competition clearances. Should HAL secure 95 percent of the shares in Boskalis, it will have the option to commence a buyout.