The shipping industry’s largest ever takeover looked certain today after Danish group AP Moller-Maersk confirmed it had secured enough stock to push through its EUR 2.3bn buyout of Royal P&O Nedlloyd.
Following the expiration of Maersk’s tender offer at 3pm yesterday, the Copenhagen-based owner said it had received 51.5% of P&O Nedlloyd’s outstanding ordinary shares.
It already has in the bag a 25% stake formerly owned by P&O Nedlloyd and bought by Maersk through intermediaries in June.
