Shares of Neptune Orient Lines were in active trade on Tuesday after the shipping group announced a $3.4 billion takeover offer from France's CMA CGM.
The stock was the most actively traded counter in early morning, with 30.5 million shares changing hands. At 9.56am, the shares were down half a cent to $1.22.
CMA CGM plans to buy NOL at $1.30 per share. The offer price is nearly 6% higher than NOL's closing price of $1.225 per share on Friday.
If the deal pans out according to the plan's timeline, South-east Asia's largest container shipping firm NOL will be delisted next year.
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The stock was the most actively traded counter in early morning, with 30.5 million shares changing hands. At 9.56am, the shares were down half a cent to $1.22.
CMA CGM plans to buy NOL at $1.30 per share. The offer price is nearly 6% higher than NOL's closing price of $1.225 per share on Friday.
If the deal pans out according to the plan's timeline, South-east Asia's largest container shipping firm NOL will be delisted next year.
Click Here To Register For Free Trial Services OR Give A Missed Call : +6531581402 Follow Us On Twitter : www.twitter.com/epicresearchsg Like Us On Facebook : www.facebook.com/EpicResearchSingapore Need Any Assistance Feel Free To Mail Us at : info@epicresearch.sg
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