CMA CGM eyes CP Ships as next takeover target.

(From Lloyds List)

Byline: Deal would propel French firm into top three, writes Janet Porter

CONTAINER shipping's extraordinary summer continued yesterday when CMA CGM confirmed it was in talks with CP Ships 'regarding a possible transaction'.

The French liner company used exactly the same language as CP Ships had done last Friday when it revealed that discussions with an unnamed bidder were taking place.

CMA CGM, headed by Jacques Saade, is already in takeover negotiations with Bollore to buy its liner shipping business, including Delmas and OT Africa Line, but acquiring CP Ships would be a much bigger challenge.

CP Ships, which …