DP World (DPW)’s bid to take over P&O appears to be coming off the rails thanks to disruption caused by canny share buying by the Government of Singapore through its Temasek investment arm.
Although P&O agreed a £3.3 bill takeover by DPW, at one stage Temasek’s five per cent purchase spree pushed the shares to 494p, well above the 443p offered by DPW, and support for DPW from institutional investors slipped....
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