PORTS and ferries business P&O has agreed to end 168 years of independence by backing a £3.3bn takeover by Dubai's DP World.
The owner of the iconic shipping brand, which has been in the bid spotlight since receiving an approach in October, has given its support to a proposed deal that will create one of the world's top three port operators.
DP World, which is owned by the government of the United Arab Emirates, said it intended to keep P&O's headquarters in London and described the strategic fit between the two companies as "particularly compelling".
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