P&O A Takeover Target

Monday, October 31, 2005
THE UK's largest ports and ferries operator was reported to be a £3 billion takeover target of a Middle Eastern rival.

P&O could receive an approach from Dubai Ports World (DPW) as soon as this week after it hired Deutsche Bank to advise it on a bid, according to The Sunday Times.

The Middle Eastern firm is understood to have contacted banks about financing a bid for P&O, which owns 27 container terminals around the world including Southampton and Tilbury in the UK.

Takeover interest in UK ports firms has spiralled this year with Mersey Docks & Harbour - the owner of ports at Liverpool, Heysham and the Medway towns of Sheerness and Chatham - bought by Manchester-based Peel Holdings for £780 million.

PD Ports, whose PD Teesport site is the UK's second largest port by volume, confirmed earlier this month that it had also received a bid approach.

The Peninsular and Oriental Steam Navigation Company is one of the most iconic names in British business and a successful offer would end more than 160 years of corporate history.

Maritime Reporter June 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

Lifting Specialists Modulift, IMES form Joint Venture

Lifting industry specialists Modulift and IMES have formed a joint venture to offer an integrated management service to clients internationally.   The two companies

Chinese PM Inks 2 Agreements During CMA CGM Visit

The CMA CGM Group hosted the Chinese Prime Minister, the French Foreign Affairs Minister and a ministerial delegation at its headquarters in Marseilles, July 1, the global shipping company announced.

Shell Green Lights GoM Field After Cost Cuts

Royal Dutch Shell has given the green light for the development of its largest platform in the Gulf of Mexico after making steep cost cuts which made the deep water

Finance

Charleston Harbor Deepening Gets US Funding

Charleston Harbor deepening project earns key federal funding for preconstruction engineering and design; U.S. Army Corps of Engineers allocates $1.303 million

Chinese PM Inks 2 Agreements During CMA CGM Visit

The CMA CGM Group hosted the Chinese Prime Minister, the French Foreign Affairs Minister and a ministerial delegation at its headquarters in Marseilles, July 1, the global shipping company announced.

Shell Green Lights GoM Field After Cost Cuts

Royal Dutch Shell has given the green light for the development of its largest platform in the Gulf of Mexico after making steep cost cuts which made the deep water

 
 
Maritime Contracts Maritime Security Naval Architecture Navigation Pipelines Port Authority Ship Electronics Ship Repair Ship Simulators Shipbuilding / Vessel Construction
rss | archive | history | articles | privacy | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.4187 sec (2 req/sec)