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NOL shares soar as deadline for CMA CGM deal nears

Talk is that the buyer has got banks to finance what looks like a pricey takeover

TAKEOVER TARGET: Despite cost-saving programmes, NOL has struggled to make money in recent years. Net losses for 2011-14 totalled US$1.2 billion, while free cash flow was negative US$4 billion.


CONTAINER shipping company Neptune Orient Lines (NOL) traded near its highest levels since 2013 as the exclusive period for talks with French shipping company CMA CGM, which is planning to acquire the firm, neared its Monday deadline.

The counter hit a high of S$1.24 and...