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.
Speaking to The Business Times on the condition of anonymity, an industry veteran argued that the Singapore investment company may grab the opportunity to divest its NOL stake, given that the "ability to sell (even) during a downturn can be perceived…
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