12:50 PM EST, 11/03/2025 (MT Newswires) -- KNOT Offshore Partners ( KNOP ) said Monday it received an unsolicited non-binding offer from Knutsen NYK Offshore Tankers to buy all publicly held common units for $10 per unit in cash.

The proposal, dated Oct. 31, outlines a potential merger between KNOT Offshore Partners ( KNOP ) and a Knutsen NYK Offshore Tankers subsidiary, the company said.

KNOT Offshore Partners ( KNOP ) said its conflicts committee will review the offer with support from advisers.

The transaction requires approval from KNOT Offshore Partners' ( KNOP ) conflicts committee, both boards, and a majority of unitholders across classes on an as-converted basis, the company added.

Shares of the company were up about 9.7% in recent trading.

Price: 9.90, Change: +0.88, Percent Change: +9.76