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
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Singapore
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 closed Friday trading at S$1.225, up two cents. The closing price was at a 10 per cent discount to NOL's last-announced net asset value.
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