More troubled waters in DP World’s takeover bid

DP World's takeover bid of P&O has been a constant fixture in the media for many months now. From the initial offer, to the aggressive bidding war with Singapore rival PSA, to the latest security concerns from America, the process has certainly not run smoothly for the UAE-based ports operator.

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By  Robeel Haq Published  March 5, 2006

More troubled waters in DP World’s takeover bid|~|dpweditorial2.jpg|~||~|DP World's takeover bid of P&O has been a constant fixture in the media for many months now. From the initial offer, to the aggressive bidding war with Singapore rival PSA, to the latest security concerns from America, the process has certainly not run smoothly for the UAE-based ports operator. However, no matter what hurdles DP World has faced, the company has remained positive and handled itself exceptionally well. The latest controversy regarding DP World's suitability to run the American ports of New York, New Jersey, Baltimore, Miami, New Orleans, and Philadelphia, may seem a little biased to the Arab world. The previous British owners of P&O received no objections from America. However, it seems, an Arab country is not treated with the same rules. Instead of complaining about the situation, DP World is once again working hard to change people's perspectives, which is absolutely the right attitude. It has readily agreed to comply with Coast Guard and Customs security regulations, in addition to extra security measures requested by the US Department of Homeland Security. It has guaranteed the independence of P&O's US terminal operations by establishing them as separate business units without any management overhauls. It has volunteered to support a 45-day detailed review into the security implications of the takeover. Now congress must decide whether to block the deal or not. Although the Middle East remains hopeful for a positive outcome, P&O's business in the US ports represents less than 10% of its total profits. Therefore, regardless of Congress' decision, DP World's takeover of P&O’s other global port operations means its dreams of becoming a major global player are destined to come true.||**||

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