Dubai Ports World Agrees to Buy P&O in Pounds 3.3 Billion Deal
Birmingham Post › November 30, 2005
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Summary
State-backed Dubai Ports World yesterday agreed to buy UK ports and ferries group P&O - which has an operation at Hams Hall freight terminal near Birmingham - for pounds 3.3 billion.
In a deal which will create the world's third largest ports company, Dubai Ports offered 443 pence per share in an all-cash bid for the 165-year-old British maritime icon as part of an ambitious expansion strategy which has seen the Gulf company grow rapidly in Asia.See the full content of this document
Extract
Dubai Ports World Agrees to Buy P&O in Pounds 3.3 Billion Deal
The offer price was a 46 per cent premium to P&O's trading price before October 30 when P&O confirmed it had been...
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