Frontline files complaint against DHTStaff Writer | April 27, 2017
Frontline demanded that the Board of DHT halt all efforts to enforce, give effect to or permit, the poison pill arrangements and allow shareholders of DHT the opportunity to consider and vote on Frontline's April 25 proposed business combination.
Shipping The unfair transaction documents
Accordingly, Frontline has filed a complaint in the Marshall Islands (where DHT is incorporated) to immediately enjoin portions of the unfair transaction documents into which DHT has entered that would permit BW Group to establish 45% ownership of DHT (even as other shareholders cannot exceed 10%).
Frontline has also sought an injunction as to the poison pill and other related anti-takeover defenses DHT has erected.
Frontline today dismissed a related action it brought in New York, where the court previously held it did not have jurisdiction over DHT or BW Group. ■