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'Buy' upgrade and takeover rumours buoy NOL

Goldman Sachs report spurs fresh talk of possible merger or acquisition

Published Wed, Mar 25, 2015 · 09:50 PM

Singapore

TRADING activity in shipping company Neptune Orient Lines (NOL) surged to a two-year high on Wednesday, buoyed by a report from an international broking house that upgraded the stock to a 'buy' and fresh rumours of a potential takeover.

NOL, South-east Asia's biggest container line, jumped 6.9 per cent or 6.5 cents to S$1.01. Some 23 million shares also changed hands, notching the highest daily volume since Jan 10, 2013.

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