Shareholders in UK ports group P&O today voted in favour of a $6.8 billion takeover bid by Gulf state-backed Dubai Ports World.
Shareholders voted 99.5 per cent in favour of the 520 pence-per-share offer by Dubai Ports, chairman John Parker told a shareholder meeting.
The vote paves the way for the creation of the world's third-largest ports group.
Dubai Ports declared victory in the bidding war for P&O on Friday after rival Singaporean port operator PSA International withdrew from the race.
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The takeover ends 165 years of UK ownership of P&O which was formed at the height of Britain's sea power.