Grinship’s shares soar on takeover offer

Maritime transportation services group Grindrod Shipping (Grinship) has agreed to a takeover by a unit of rival Taylor Maritime Investments (TMI), saying the offer is at an “attractive premium” at a time of serious volatility and economic uncertainty.

Grindrod Investments, which holds about 10.12% of Grinship, has entered into a tender and support agreement for the offer...

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