Ports Deal to Close by Monday?

Posted on Mar 3, 2006

Reuters:

WASHINGTON - Dubai Ports World’s $6.85 billion acquisition of Britain’s P&O will close on Friday or Monday, despite an additional 45-day review by the U.S. government in response to security concerns, a U.S. Treasury Department official said on Thursday.

“My understanding is that the deal will not close today,” Deputy Treasury Secretary Robert Kimmitt told a Senate panel. “Although they had announced March 2 as the closing date ... that deal will not now close until tomorrow or Monday.”

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Truthdig says: Uhhh, can anyone help us figure this one out? It seems ludicrous, but then again, so was Bush’s immediate response to Sept. 11.

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