French shipping company CMA CGM SA has offered to buy Temasek Holding's shares in Neptune Orient Lines for S$2.26 billion ($1.61 billion), the Singapore shipping firm said in a filing to the Singapore Exchange on Monday.
The world's third largest container shipping line is offering $1.30 a share or 6 per cent above NOL's last closing price on the Singapore exchange to acquire Temasek's 67 percent stake in an all-cash deal, NOL said in a filing to the exchange on Tuesday.
CMA's offer will value NOL at S$3.4 billion.
The merger between NOL and privately-held, family-owned CMA would be the biggest container shipping deal in years.
Temasek has accepted the offer.