P&O shareholders approve DP World takeover
Posted: 14 February 2006 0658 hrs

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	Related News • P&O backs DPW takeover after PSA withdraws bid • PSA may still launch last-minute counter-offer for P&O: analysts • Stakes rising in Singapore-Dubai duel for P&O • DP World trumps Singapore port's P&O takeover bid with new offer • P&O accepts bid from Singapore's PSA

LONDON : Shareholders in the British port and ferries group Peninsular and Oriental Steam Navigation Company on Monday approved a takeover bid by DP World of Dubai that valued P&O at around 5.7 billion euros (US$6.8 billion).

The deal, which is to be finalised on March 2 according to P&O, creates the second biggest global ports and container group in terms of traffic, on a par with Singapore's PSA International and the Danish group APM Terminals.

Hutchinson Ports of Hong Kong is number one worldwide.

PSA pulled out of a bidding war for P&O on Friday. - AFP/de