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Takeover battle looms at P&O
Thursday, 11 Jan, 2006
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A takeover battle is looming at P&O after it emerged Singapore ports operator PSA International has trumped an earlier bid for the company.
P&O had accepted a £3.3 billion bid from Dubai Ports World in November and scheduled a meeting for January 20 to approve the deal.
But the meeting has now been delayed for around two weeks as the board mull over an improved bid of £3.5 billion from PSA.
DP World, which stressed it would retain P&O’s struggling ferry operation, said it remained committed to its offer.
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