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03-07-2008, 07:06 PM

abhinav2492 abhinav2492 is offline

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NOL falls on Hapag-Lloyd concerns

NOL fells as much as 7.4 percent to a 14-week low on renewed concerns that it may be overpaying for its bid for Hapag-Lloyd.

NOL is eyeing a $5-7 billion loan to help fund a bid for Hapag-Lloyd, the world's number five player. According to Citigroup, purchasing Hapag-Lloyd at a time when the container shipping industry is weakening could be risky and may turn out to be a bad deal.

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