UK: Court of Appeal backs P&O's sale

[muriel_volestrangler]

The court on Monday rejected an attempt to block the deal by Miami-based Eller, a business partner of P&O in the US.

Eller had claimed that concerns about a United Arab Emirates-based company buying P&O's operations at six major US ports would harm its business.

The Court of Appeal has backed last week's approval by a High Court judge.
...
Eller said that while it appeared to have exhausted its legal fight in the UK it would continue to pursue legal action against the takeover in the US.

http://news.bbc.co.uk/1/hi/business/4780288.stm

[sabra]

1. British Court Allows Dubai Deal to Proceed

http://www.wjla.com/news/stories/0306/308321.html

British Court Allows Dubai Deal to Proceed


LONDON (AP) - A British appeals court on Monday declined to hear a Miami firm's objection to the takeover of British shipping company P&O by Dubai's state-owned DP World, giving the green light to a deal that has caused an uproar in the U.S. over port security. Miami-based Eller & Co had argued that U.S. concerns about a United Arab Emirates company owning significant operations at six major U.S. seaports could harm its business and had tried to have the deal barred on technical grounds.

Eller said they were very disappointed at the Court of Appeal's decision.

"We are not alone in opposing this deal - many elected politicians in the U.S. and indeed the American public, share many of our concerns about the takeover," a statement from Eller said.

Eller said while the legal process in the United Kingdom has been exhausted, it will continue to pursue legal action in the U.S. courts in Florida.

"We will continue to fight to protect our business and the livelihood of thousands of our staff and subcontractors."

[KoKo]

2. Oh...Lordy....they really are boxed in if they have to pursue it in FLA!

Sheesh...