P&O Shares Increase

Monday, January 30, 2006
Dubai Ports World raised its offer for the British port operation Peninsular and oriental steam Navigation Co. to almost $7 billion, beating an offer from Singapore's PSA International Ltd. The offer sent P&O's shares up almost 5 percent on January 27.

P&O and DP World, which is owned by Dubai's government, had agreed to the $6.9 billion cash bid. The offer, which amounts to $9.26 per share, topped a $6.3 billion offer from PSA, a unit of Singapore's government-owned investment company Temasek Holdings Pte. P&O had recommended shareholders accept the Singapore bid before Dubai raised the stakes.

Shares in P&0 were trading just below that level at $9.71 on January 27, up 4.6 percent, in London.

(Source: AP)

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

Shipbuilding

Pressure for Australia Sub Deal Grows

Australia to spend A$65 bln on ships and subs over 20 years; PM pledges A$40 bln for domestic shipbuilders. Australia will spend A$89 billion ($65 billion) on

Latest USCG Cutter At Boston Harbor

The Coast Guard’s latest 418-foot National Security Cutter James (WSML 754) entered Boston Harbor August 3, 2015. The James is the fifth of eight planned National

LNG Ferry Construction for Tallink Begins

The start of production of Tallink's new generation LNG powered fast ferry for the Tallinn-Helsinki route was celebrated on the 4th of August 2015 at Meyer Turku shipyard.

Finance

FURUNO of Japan Increases Investment in ENL

ENL Group and FURUNO Electric Co. Ltd of Japan have announced that FURUNO has increased its investment into the New Zealand company to a total of 29.5%. The

Pressure for Australia Sub Deal Grows

Australia to spend A$65 bln on ships and subs over 20 years; PM pledges A$40 bln for domestic shipbuilders. Australia will spend A$89 billion ($65 billion) on

S.Africa Considering Ship-Based Power Generation

South Africa could deploy power barges using gas to generate electricity to help overcome chronic supply shortages, a senior government official said on Tuesday.

 
 
Maritime Contracts Maritime Security Naval Architecture Navigation Port Authority Salvage 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: 0.2295 sec (4 req/sec)