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.” Kimmitt made his statement in response to a question from lawmakers on the Senate Banking Committee. Full Story
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