Our buy, hold and sell advices are only available to (logged in) subscribers.Enter here the e-mail address of your friend you wish to surprise.Investment company HAL has increased its offer for Boskalis from €32 to €33 (with dividend) per share.Including the cash dividend of €0.50 already paid, the offer represents a premium of approximately 32% to the closing price prior to the launch of the offer in March.Still, there is no question of a knockout bid.Boskalis sees a clear pick-up in demand in both the offshore energy markets and the dredging market and can earn €3 per share in good times.A rising market will translate into better prices and higher profit margins.The offer does not take this sufficiently into account.The Boskalis board therefore initially did not want to recommend the offer to the shareholders.At the extraordinary shareholders' meeting, CEO Peter Berdowski stated that he had done everything he could to move HAL to a higher bid.The talks with HAL have subsequently continued and have now led to an increase of €1 per share.It is sufficient for the management and supervisory board of Boskalis to recommend the offer.HAL already owns 55.5% of the documents and can start legal proceedings at 80% to take Boskalis off the stock exchange.Boskalis will cooperate with this at 85%.A so-called legal triangular merger is then chosen, in which Boskalis' assets are transferred to other companies.This will be done at the offer price, albeit with deduction of dividend tax.The registration period has been extended to Tuesday 6 September.If HAL honors its offer (no minimum threshold is stated for this), there will be a post-registration period of a maximum of two weeks.The offer still doesn't convince me.Still, it seems unlikely that HAL will raise the offer again.The current price corresponds to the bid.I lower the advice to 'sell'.The Boskalis share will be sold for the NL Portfolio at today's closing price.Jeroen Boogaard (1973) has been writing for Beleggers Belangen since 2011.He has been active as an independent financial journalist since 2010, before working for twelve years at an investment magazine as an analyst and later as deputy editor-in-chief.His specialties are real estate, Exchange Traded Funds (ETFs) and Dutch small and mid caps.© ONE Business bv. Copyright reserved.The following regulations apply to the use of this site: Disclaimer, Terms of Use and Privacy / Cookie Statement.