NOL halts trading as historic takeover talks draw to a close

Exclusive talks with CMA CGM will end today.

Container shipping company Neptune Orient Lines (NOL) halted trading of its shares before markets opened on Monday, December 7.

The loss-making firm is in exclusive talks for a potential takeover by French shipping company CMA CGM. NOL’s exclusivity agreement with CMA CGM will expire at 11:59 pm today.

It has earlier been reported that privately-held CMA CGM is in talks with its lenders regarding potential financing for the deal.

NOL’s share price had surged 17% since the beginning of November, when it was first announced that the company is in talks for a potential takeover.

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