Bidding war for P&O Ferries?

The prospect of a bidding war for P&O Ferries has emerged after the company admitted receving a takeover approach.

The ferries and ports company is believed to be a takeover target for Dubai Ports World, although other bidders are thought likely to emerge.

P&O Ferries declined to comment other than confirming that it had received a “very preliminary contact from a third party which may or may not lead to an offer for the company”.

Report by Phil Davies