NORWAY - FRC and DOF bid for DOF Subsea could fall through

DOF agreed a non-binding term sheet FRC in July, with the initial intention being to put forward a cash offer of NOK 45 per share for all outstanding shares of DOF Subsea; a 47.5% premium to the closing price on 9 July.

DOF Subsea provides survey, IRM, construction support and subsea engineering services. Headquartered in Bergen and with offices worldwide, DOF Subsea has been listed on the Oslo Stock Exchange since November 2005 and currently employs 1,200 people.

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