Ferry News Archive
Takeover battle boosts P&O's shares
Date: 27 Jan 2006 00:00 Source: BBC NewsShares in P&O have jumped by more than 6% after the UK ports and ferries group backed a fresh £3.9bn ($7bn) takeover bid from a Dubai-based operator.
The offer from Dubai Ports World - made after the close of trade in London on Thursday - topped a rival £3.5bn bid from Singapore's PSA International.
Both suitors are keen to take control of P&O's container ports businesses in Asia, Europe and the Americas.
P&O's management had previously backed PSA's 470 pence per share offer.
victory for state-backed Dubai Ports would create the world's third-biggest ports operator.
The company's revised 520p per share offer on Thursday was the latest twist in the saga for control of Peninsular & Oriental Steam Navigation since Dubai Ports first tabled an £3.3bn offer in November.
P&O said the improved bid from Dubai Ports represented a 71.3% premium on its closing price on 27 October 2005, when the company first received a takeover approach.
A successful bid by PSA, which is owned by the Singapore government's Temasek investment agency, would create the world's largest ports and containers group.
The agency already owns 4.1% of P&O.
Founded in 1837, P&O has three divisions - ferries, ports and logistics. In its heyday in the mid-1920s, it owned a fleet of almost 500 ships.
More Ferry News from directferries.co.uk
Date: 18 May 2012 Source: Brittany Ferries
Travel to France this Summer with Brittany Ferries by car with an additional passenger from just £175 return or from £87.50 return if you travel by motorbike (rider and pillion).
Date: 14 May 2012 Source: Grandi Navi Veloci
Italian ferry giant Grandi Navi Veloci have opened 2 new services connecting France with Morocco.
Date: 08 May 2012 Source: Brittany Ferries
Spend up to 2 days in France from just £99 return when you travel with Brittany Ferries by car and take an additional passenger or from £49.50 if you travel by motorbike (rider and pillion).
Date: 05 May 2012 Source: Corsica Sardinia Ferries
If you're planning on travelling to Corsica, Sardinia or Elba this Summer with Corsica Sardinia Ferries then take a look at our new ship guides and find out what it's like onboard before you travel!
Date: 01 May 2012 Source: DFDS Seaways
Take your car by ferry to France with DFDS Seaways from Dover to Dunkirk or Calais from just £19 return.
Date: 01 May 2012 Source: P&O Ferries
Spend up to 5 days abroad and pay just £49 return when you travel from Dover to Calais with P&O Ferries.
Date: 30 April 2012 Source: Toremar
Italian ferry operator Toremar is now available to be booked online across the direct ferries network.
Date: 25 April 2012 Source: P&O Irish Sea
Take your car on the ferry between Scotland and Northern Ireland with P&O Ferries and take a second passenger for FREE – a saving of up to £50 on a return crossing!
Date: 18 April 2012 Source: Stena Line
Take your car on any ferry to Northern Ireland or Ireland with Stena Line and take a second passenger for FREE – a saving of up to £50 on a return crossing!
Date: 16 April 2012 Source: Irish Ferries
You can now save up to 30% when you take the ferry to Ireland between Monday and Thursday in April and May with Irish Ferries.