US fund manager's sell-off at likely loss may convince more shareholders to take up Temasek's $2.80 a share offer
By Goh Eng Yeow
JUST weeks after buying heavily into Neptune Orient Lines (NOL), New York-based fund manager Paulson & Co is bailing out even as Temasek Holdings' offer to buy the rest of the shipping line that it does not already own expires today.
NOL said yesterday that the fund manager sold 55.9 million NOL shares last Friday and another three million shares on Monday, paring its stake in the shipping line to 4.96 per cent from 9.03 per cent
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