So, you have some specific, credible evidence that this company has endangered the security of a port?
Corporate games Singapore must buy 20% to stop Dubai
* DP World owns 1.8 per cent of P&O.
* With its generous cash offer last week, it has received irrevocable undertakings and letters of intent to vote in favour of its offer with respect to approximately 18.6 per cent of P&O's issued deferred stock.
* Singapore would need to buy about 20 per cent of P&O to stop the Dubai takeover if that is what their intention is, say analysts.
* There is a 'break (compensation) clause' whereby P&O has agreed to pay DP World an inducement fee of £34 million if: the deal does not come through; a third party announces a firm intention to make an offer; the scheme is not sanctioned by deferred stockholders at the court meeting or all of the resolutions required to implement the scheme at the extraordinary general meeting are not approved at the EGM.
* A request will be made to delist the P&O stock from the London Stock Exchange approximately four business days after the effective date.
* While DP World was not commenting on these points, analysts said it was unclear what strategy would unfold.
This entire deal stinks.