WASHINGTON – Behind the furor over the proposed takeover of five U.S. ports by a Dubai-owned company is a small stevedoring outfit caught up in a legal spat with its partner at the Port of Miami, Peninsular & Oriental Steam Navigation Co.
Through two lawsuits in London and Miami, and a flurry of lobbying in Washington since late January, Eller & Co., of Fort Lauderdale, Fla., has become an obstacle for Dubai Ports World's $6.8 billion takeover bid of P&O of London.
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The Wall Street Journal’s Neil King and Greg Hitt report this morning that the hysteria surrounding the proposed takeover of five U.S. ports by Dubai Ports World has its origins in a lawsuit.
Eller & Co., a small stevedoring firm (the Law Blog enjoys that word so much we would like to write it again — stevedoring) based in Fort Lauderdale, Fla., is engaged in a legal dispute with its partner at the Port of Miami, Peninsular & Oriental Steam Navigation, the company that Dubai Ports World wants to acquire.