SINGAPORE: The city-state's investment arm Temasek Holdings said its offer to buy the rest of Neptune Orient Lines Ltd at S$2.80 per share is firm, after a significant shareholder in NOL called on the company to seek alternative offers through open bidding.
In a letter to NOL chairman Cheng Wai Keung, New York-based institutional investment firm Paulson & Co Inc said the Temasek offer “is significantly less than what NOL would receive in an open auction process”.
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