Singapore Temasek does not rule out P&O bid. DP World may face a bidding war for P&O. (FT)
Seems Dubai's DP World may face a potential bidding war from Temasek, the Singaporean state investment company for P&O. Temasek has been building stake in P&O, reportedly around 5%, and in a carefully worded statement to the London Stock Exchange, it has not ruled out bidding for P&O.
Under UK rules, an acquirer of a company can force minority investors (less than 10%) to sell. Temasek knows a thing or two. P&O was established under a 200 year old Royal Charter that does not adhere to UK company rules. An acquirer cannot force a minority with less than 10% to sell their shares.
Seems Temasek will be hanging around for a while.
Under UK rules, an acquirer of a company can force minority investors (less than 10%) to sell. Temasek knows a thing or two. P&O was established under a 200 year old Royal Charter that does not adhere to UK company rules. An acquirer cannot force a minority with less than 10% to sell their shares.
Seems Temasek will be hanging around for a while.
posted by Double M at 7:04 PM
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