2TG head US attempts to block a £4bn takeover of P&O

Date: November 19, 2007

Expertise: Commercial Dispute Resolution

Paul Downes and Tom Montagu Smith headed the UK based team seeking to raise US objections to the £4m Dubai takeover of P&O by way of section 425 scheme of arrangements. The objections were heard over a period of a week, first by Mr. Justice Warren and then by a strong Court of Appeal. The Court found that although there had been a series of failings by P&O to adhere to the process ordered by the Court they were not of sufficient magnitude to prevent the scheme being approved.