Maersk moves towards completion of P&O Nedlloyd takeover

Maersk moves towards completion of P&O Nedlloyd takeover    A.P. Moller-Maersk is moving towards successful completion of its proposed 2.3 billion euros ($3 billion) takeover bid for Royal P&O Nedlloyd, parent company of P&O Nedlloyd.
   Shareholders who want to accept the cash offer for Royal P&O Nedlloyd have until Thursday afternoon to tender their shares to A.P. Moller-Maersk, which has already secured a 45-percent shareholding in the company. The Danish group will then count the number of shares tendered and assess the success of its bid.
   A.P. Moller-Maersk said earlier it would declare the bid unconditional if 70 percent of the shares in Royal P&O Nedlloyd are tendered — a prospect that appears very likely.
   “It is our expectation that the transaction will be completed,” said Tony Mason, investment executive at Royal P&O Nedlloyd. He added that antitrust approval conditions have also been met.
   “We anticipate that the settlement day will be at the latest Aug. 18,” a spokesman for A.P. Moller-Maersk said. This is the date by which A.P. Moller-Maersk should become the new owner of Royal P&O Nedlloyd, completing the largest takeover bid in the history of container shipping just two months after announcing the proposed transaction.