Saturday, February 25, 2006
Business details on P&O/DPW deal
From the BBC, P&O agrees bid from Dubai Ports
29 November 2005
The takeover signals the end of 168 years of independence for the world's fourth-largest ports group. DP World, owned by the Dubai government...
"We did not solicit the bid but we received an attractive proposition. It was followed by some very tough negotiations," said P&O chairman Sir John Parker...no rival bids have emerged so far.
DP World is...backed by huge cash piles from the Gulf emirate's resources... Dubai Ports said it hoped to expand its operations following the P&O deal.