French container shipping group CMA CGM bought an additional 2.4 million shares of Neptune Orient Lines ( Valuation: 0.90, Fundamental: 0.75) from the open market on Thursday at $1.235 and $1.24 per share.
Following the latest transaction, the Marseille-based company now owns 2.32% of its takeover target, NOL.
CMA CGM has made several open-market purchases of NOL's shares since December 2015 when it launched a pre-conditional voluntary general offer for all shares in the Singapore-listed liner.
The open-market purchases have all been transacted at below the takeover bid of $1.30 per NOL share.
NOL shares ended 0.4% lower at $1.23 on Thursday.
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Following the latest transaction, the Marseille-based company now owns 2.32% of its takeover target, NOL.
CMA CGM has made several open-market purchases of NOL's shares since December 2015 when it launched a pre-conditional voluntary general offer for all shares in the Singapore-listed liner.
The open-market purchases have all been transacted at below the takeover bid of $1.30 per NOL share.
NOL shares ended 0.4% lower at $1.23 on Thursday.
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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