NOL surges on merger talks but eases on divided views

Singapore

SHARES in Neptune Orient Lines surged to a high of S$1.125 on Monday, up S$0.08 from the previous close, but ended the day at S$1.055, as the market remains divided in its response to merger talks between Singapore's largest listed container shipping entity by market capitalisation and two leading players, AP-Moeller-Maersk and CMA CGM.

Industry watchers are split on their views of NOL's anchor shareholder, Temasek Holdings' reaction to the approaches from Maersk and CMA CGM.