Finally, the moment many of us have been waiting for since the whole STX OSV Fincantieri saga started. The outcome is somewhat expected, but it is still welcome to have it in black and white. Ernst & Young was engaged to be an Independent Financial Advisor (IFA) to advise the Independent Directors on the STX OSV offer.

Taken from the report - The IFA’s advice to the Independent Directors on the Offer and the Options Proposal

“In summary, based on our analyses set out in this letter and after having considered carefully the information available to us and based on the market, economic, strategic and other relevant conditions prevailing as at the Latest Practicable Date, we are of the view that the Offer Price and the Options Proposal are, on balance, not attractive and there are
generally insuffi cient compelling reasons to recommend the acceptance of the Offer and the ...