Hansa Group

The court hearing on Hansa’s proposed merger with Ocean Wilsons under a Scheme of Arrangement governed by Bermuda law has concluded; Hansa said a judgment is expected shortly. Ocean Wilsons shareholders had already approved the plan in September, but court approval was delayed by objections from Arnhold LLC and weather-related interruptions. If approved, the takeover will be effected by issuing new Hansa shares to Ocean Wilsons shareholders; the previously communicated timetable is no longer valid and will be updated by Hansa. The transaction is not subject to the UK Takeover Code, although the parties have complied with certain takeover-related rules. » More on de.investing.com