OOCL Denies COSCO Takeover Rumors
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OOCL Denies COSCO Takeover Rumors
Posted on Jun 22
Overseas (International) Ltd., parent of ocean carrier OOCL, once again denied rumors that a takeover by COSCO Shipping is imminent. In January several news outlets reported that COSCO was preparing for a $4 billion takeover bid for OOCL, and in recent weeks speculation that the companies were in talks about an acquisition increased again.