Singapore walks away from P&O
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Not only does THE "no brainer" exposes an inability to grasp most basic business dealings - despite his claim of an Economics degree, and an Employer-Businessman - he expose his capacity as a vindictive loser too.Originally posted by Salman:
How can the investment bankers take a cut when there is no deal? Please explain.
Do you really think Temasek needs financing for this deal? [/quote]
When a "no brainer" speaks - its brilliance is like lightning that flash only momentarily ahead of the sound bite that lingers heavily as an echo of the flash. .
Do you think that Temasek has the expertise or the license to handle such a takeover transaction that crosses several international borders and complying with at least two national legislations ? .
Perhaps a "no brainer" do not need any food to sustain the non-caloric idleness of a "no brainer". .
Fortunately, the larger majority of HUMANS do need sustenance to continuously meet the growth of the grey matters - which explains for a "no brainer" lack of understanding on fees payable for work done whatever the outcome of the transaction. .
[quote]Originally posted by Salman:I hope they rescind the rights US ports or add more insurance and safeguards to these ports.
Is it any wonder that PAPa never got him on board GIC and Temasek, despite all the fraudulent display of loyalties of a PAPpy ? .
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Good that PSA withdrewed. P&O is an empty shell actually.Originally posted by LazerLordz:Singapore walks away from P&O
By Alistair Osborne, Business Editor (Filed: 11/02/2006)
The Port of Singapore Authority is expected to turn its attentions to US terminals operator Stevedoring Services of America after yesterday pulling out of the £3.92 billion bid battle for Britain's P&O.
The withdrawal of the PSA, which is owned by the Singaporean government's investment arm Temasek, left the way clear for Dubai's DP World to land P&O with its 520p-a-share bid. P&O shares fell 20¾ to 516¾p.
The PSA pulled out arguing that its 470p-a-share offer on January 26 - trumped within hours by DP World - "represented a full and fair value".
It declined to comment on rumours that the PSA's ambitious boss Eddie Teh was blocked from making a higher bid by Temasek chief Ho Ching, the wife of Singapore's prime minister Lee Hsien Loong. Mr Lee said last week that there was "a right price" for any deal.
Mr Teh is now expected to take a serious look at Stevedoring Services, which has container terminals along the US West Coast and is one of the last remaining big players in the industry. Analysts value it at around £1.5 billion. The PSA twice looked at Stevedoring Services before Mr Teh took over.
The PSA's withdrawal, which came on the eve of Monday's shareholder meeting to vote on the DP World bid, was cushioned by its 4.1pc stake in P&O.
It acquired about half of this last May when it first considered a tilt at P&O and stands to make £45m-£50m profit.
Three hedge funds which had been buying shares above DP World's 520p offer saw their profits trimmed. Even so, Eton Park has made about £15m, while Tisbury Capital is thought to have made at least £3.5m, with Sandell Asset Management making more than £2.5m.
Sultan Ahmen Bin Sulayem, the DP World chairman, said: "We're pleased with this development and remain encouraged by the board's unanimous recommendation to its shareholders of our offer."
http://www.telegraph.co.uk/money/main.jhtml?xml=/money/2006/02/11/cnpno11.xml&menuId=242&sSheet=/portal/2006/02/11/ixportal.html -
well, i'm quite sure both sides (PSA & DP) knew what was best for their resp. businesses. and they acted accordingly.
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I don't think so, Dubai simply threw money into the laps of Brits. There is no guarantee the port concessions will continue and PSA could well take over these ports once the concessions expire.
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Originally posted by Salman:
Sadly, the resident "no brainer" continue to delude himself with his own conceited brilliance. .
I don't think so, Dubai simply threw money into the laps of Brits. There is no guarantee the port concessions will continue and PSA could well take over these ports once the concessions expire.
The tussle between Temasek and DP World is in the control of the Dubai Port operation presently managed by P & O.
Will the Dubai Government not guarantee the concession to their own Dubai Port World if it is successful in the takeover of P&O ? .
Conceit is God's gift to little men. - Bruce Barton -
they can keep their Dubai port, but thats only one port. Can that one port support the billions invested?
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Temasek does have the expertise for M&O. Why not?
And they certainly don't need outside financing. -
Originally posted by Salman:
A "no brainer" with an economics degree certainly exercises his faculty with the greatest economy in effort - still need spoon feeding from PAPa ? .
they can keep their Dubai port, but thats only one port. Can that one port support the billions invested?
We will believe that DP World will have a greater capacity than our resident "no brainer" in managing their affairs. .
Don't you have enough on your own plate ? . -
Originally posted by Salman:
Does a doctor self-diagnose, self-medicate and perform surgery on himself ?
Temasek does have the expertise for M&O. Why not?
And they certainly don't need outside financing.
Maybe a "no brainer" will do it. .
Fortunately, billionaires still depend on large financial institutions and legal specialist to help them in their transactions, while their own in-house specialist ensure due diligence and performance are executed.
Can a "no brainer" even appreciate the specialist knowlege and skills required in cross-border take-overs and fund movements ?
Tend to your daily monotonous chores that only a "no brainer" can cope with, and leave the big picture to PAPa - so that we have something to whine over to exercise our brains. . -
salman, whether the deal completed or not investment banker fees are payable by temasek here. Temasek/PSA took a couple of weeks of due dillegence thus the time spent on the work undertaken by the investment bankers in london will be billed to temasek. chances are it would be a couple of millions £ judging from the size of the acquisition. nothing comes free in life my dear friend.
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Really? We made $60 million the process ands bled Dubai. Great move.
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Now US is worried... Because of 9-11
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Good, maybe Dubai will offload P & O managed ports to PSA at a discount.
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Unlikely...Originally posted by Salman:Good, maybe Dubai will offload P & O managed ports to PSA at a discount.
PSA gains as they held 5% of P&O shares
But anything can happen, see how HPH tied up with PSA on HPH's HIT