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February 17, 2006

The P&O Bid

So Dubai Ports World has agreed to take over P&O. Great, capitalism in action.

However, there might be a slight problem on the horizon. DPW is, as we know, essentially a state owned company. By the United Arab Emirates, I believe.

P&O operates ports around the world. Including six in the US.

There is now a letter writing campaign starting, as here at Michelle Malkin, to stop the takeover campaign.

No, I’m not sure how effective such a campaign is going to be but you might want to think about taking what’s on offer in the market (assuming you have any P&O stock) rather than waiting for the completion of the takeover.

Remember what happened to Unocal?

February 17, 2006 in Business | Permalink


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Surely if a government buys it, it is not capitalism in action?

Tim adds: Transfer of assets in an open market? Meets most of my definitions.

Posted by: Matthew | Feb 17, 2006 12:56:27 PM

So if the British government bought it you would say the same?

Tim adds: They buy it in the open market? Sure. I realise that my definition of capitalism doesn’t suit most. Might be wrong even, but just so we’re clear about what I mean by it. Where ownership of assets is transfered via market mechanisms, moving them tothose who value them most highly. A government purchasing a company does not to me signal socialism. It may be folly but socialism is not the only form of that.

Posted by: Matthew | Feb 17, 2006 1:08:16 PM

and the red chinese already run the panama canal

Posted by: embutler | Feb 17, 2006 3:04:45 PM

Does P&O run any British ports or ports in other European countries?

Tim adds: From their website:

"It is a world leader in cargo handling services and port management throughout Europe, the United States, South America, Asia, Africa and Australasia."

On the same page click on "operations" for a world map.

Posted by: James Hammerton | Feb 18, 2006 3:00:21 AM

Riiight. So our good friends the base hosting, gas exporting, dirty money tactfully concealing UAE is buying P&O, and that's a bad thing for Michelle "Yes! I Want To Be Detained!" Malkin...of course.

Off to bang head on wall.

Posted by: Alex | Feb 18, 2006 3:35:53 PM

Dubai Ports World is a state-owned company, but owned by the Emirate of Dubai, not the UAE government. I can only think of a handful of UAE government owned companies, most are either owned by the Emirate of Dubai or Emirate of Abu Dhabi.

Posted by: Tim Newman | Feb 18, 2006 4:18:09 PM