Dubai Ports Takeover of P&O Delayed Again
P&O's £3.39bn takeover by Dubai Ports World has been delayed again by postponement of an expected appeal court decision yesterday.
P&O's £3.39bn takeover by Dubai Ports World has been delayed again by postponement of an expected appeal court decision yesterday.
Eller & Co, an American joint venture partner of P&O, planned to apply for leave to appeal against a high court ruling allowing the deal. But the appeal court's schedule meant that it put off hearing the application until Monday.
Eller & Co claims political objections in the US to Middle Eastern involvement in ports will damage its stevedoring business in Miami. If its application for an appeal fails, the takeover could be completed on Wednesday.
Eller & Co, an American joint venture partner of P&O, planned to apply for leave to appeal against a high court ruling allowing the deal. But the appeal court's schedule meant that it put off hearing the application until Monday.
Eller & Co claims political objections in the US to Middle Eastern involvement in ports will damage its stevedoring business in Miami. If its application for an appeal fails, the takeover could be completed on Wednesday.
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