Temasek Accumulating Stock in Royal P&O Nedlloyd

Fresh on the heels of last week’s announcement that AP Moller would tender to acquire Royal P&O Nedlloyd, there were this week reports in the Daily Telegraph this week that the Singapore government investment vehicle, Temasek, which owns a 70% stake in rival Neptune Orient Lines, is speculated to be building a stake in P&O (which owns 25% of Royal P&O Nedlloyd). Although such reports have not been confirmed, analysts at Citigroup think it might make sense from a timing and strategic point of view, but not because Temasek is interested in outbidding the mighty Moller. Here’s their reasoning:

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