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Miclyn Express Offshore Limited (ASX:MIO) says its received a takeover offer by major shareholder CHAMP Marlin Holdings.
The company, which provides service vessels to the offshore oil and gas industry, has confirmed it has received a conditional, non-binding proposal to acquire all remaining equity in the company.
Under the deal being considered, the acquisition may be effected via an amalgamation under Bermuda law, with shareholders offered $2.20 per share.
CHAMP currently owns a combined 75.2 per cent stake in Miclyn.
Miclyn generated a net profit of $51.2 million in fiscal 2013.
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