APL's New Owner?

Temasek Holdings recently scooped up 20.3 million NOL shares on the open market, which brought its stake in the company to over 30 percent, and, by law, had to make a takeover offer. Temasek offered $1.65 per share ($1.65 billion) unsolicited which the NOL Board had until September 15th to accept.

On September 15, according to Temasek financial advisor Goldman Sachs, the offer has become unconditional and it gained 51 percent control of the company. NOL shareholders have another 14 days until September 29th to accept Temasek's bid of $1.65 per share.

In 1997, NOL acquired the U.S. giant APL, which is a member of the U. S. Military Security Program (MSP). Today, APL is the container transportation arm of NOL, and sister company, APL Logistics, provides global supply chain services.

Temasek Holdings, based in Singapore, was established in 1974, and today manages a diversified global portfolio, including investments in Singapore, India, Indonesia, Korea, Malaysia, and the United States. It has investments in a wide range of industries: transportation and logistics, banking and financial services, telecoms and media, energy and resources, infrastructure and engineering, as well as pharmaceuticals and biosciences.