Berlian Laju reduces its Camillo Eitzen takeover price

Singapore: Indonesia's Berlian Laju Tanker announced this morning a downward revision to the offer price for Norway's Camillo Eitzen & Co (CECO), after completing the due diligence exercise.
The offer, which is likely to go through in the first quarter next year, now stands at NOK23.50 a share, down 6% or NOK1.50 from its original October 5 offering. Were the deal to go through the combined entity would become the largest chemical tanker owner in the world with more than 150 chemical carriers. [11/12/09]