TWO lawsuits have been filed in a bid to stop the $6.8 billion (€5.7bn) takeover of significant operations at six major US ports by an Arab company.

A United Arab Emirates company has volunteered to postpone its takeover of significant operations at six major US seaports.

A United Arab Emirates company offered today to delay part of its £4 billion takeover of six US ports from a British firm to give the Bush administration more time to convince politicians the deal posed no security risks.

BUSH administration officials, trying to calm a political furore over allowing a United Arab Emirates company to take over six US seaports, told Congress yesterday they spent three months reviewing the deal and said all concerns about security were satisfied.

Bush administration officials, trying to calm a political furore over allowing a United Arab Emirates company to take over a half-dozen US seaports, told Congress today they spent three months reviewing the deal and said all concerns about security were satisfied.

The Bush administration secretly required a company in the United Arab Emirates to cooperate with future US investigations before approving its takeover of operations at six American ports, it emerged today.

US SENATE Republican Leader Bill Frist yesterday called for the Bush administration to stop a deal permitting a United Arab Emirates company to take over six American seaports, upping the ante on a fight that several congressmen, governors and mayors are waging with the White House.

MEMBERS of the US Congress and the Bush administration are at odds over whether security is compromised by an Arab company’s takeover of operations at six major American seaports.

Ports and ferries group P&O today said it was confident its multi-billion pound takeover by Dubai Ports World would go ahead despite growing opposition in the United States.

Shareholders of P&O today overwhelmingly backed the group’s takeover by Dubai Ports World, creating the world’s third largest ports group.

Investors kept faith today with the market rally that sent the FTSE 100 Index to a four-and-a-half-year closing high last night.

A flurry of takeover activity boosted optimism in London today as the FTSE 100 Index soared to levels not seen for more than four years.

P&O investors were today awaiting the next move in a takeover battle that last night saw Dubai Ports World up its offer for the group to £3.9bn (€5.7bn).

Upgrades for top flight stocks and bid excitement over ports and ferries firm P&O helped the FTSE 100 Index rise further above the 5700 mark today.

A bid battle for ports and ferries firm P&O and broker upgrades for a string of top-flight stocks enabled the London market to bed in above the 5700 threshold today.

Directors of ports and ferries firm P&O jumped ship today to recommend a £3.55bn (€5.1bn) takeover offer from Singaporean rival PSA International.

The Singapore-based group behind the latest approach for UK firm P&O was today said to be in talks with potential buyers ready to participate in the break up of the ports and ferries giant.

Ports and ferries business P&O was at the centre of a takeover battle tonight after receiving an approach from a Singapore-based ports firm.

The London market dropped below the 5700 barrier today as strong Christmas trading at Marks & Spencer failed to shield the retailer from profit taking.

Forth Ports said today it was on course to meet its expectations after a significant improvement in trading during the second half of the year.

The UK’s largest homebuilder and a Kazakh copper mine were promoted to the FTSE 100 Index tonight at the expense of household names Whitbread and William Hill.

Ports and ferries group P&O tonight won the race to replace BPB in the ranks of the UK’s top 100 companies after the plasterboard maker stopped trading following a foreign takeover.

A cautious opening to trading on Wall Street – rather than the Chancellor’s gloomy economic forecasts – put the brakes on the London market today.

Higher metal prices boosted mining stocks today as the London market ended the week on a positive note.

Shares in P&O soared another 12% today amid speculation that a fresh bid to rival the €4.88bn offer from Dubai Ports World could be mounted.

The British ports industry today woke up to its second major takeover in 24 hours when North East-based operator PD Ports accepted a £246m (€359m) offer.

British ports and ferries group P&O bowed to a £3.3bn (€4.8bn) takeover from Dubai today as the iconic shipping brand signalled the end of 168 years of independence.

One of the UK’s oldest shipping firms was today said to be setting sail for foreign shores in a multi-billion pound takeover deal.

The FTSE 250 Index raced to a record high today as the wider London market enjoyed another day of strong growth.

The prospect of a multi-billion euro bidding war for ports and ferries group P&O was fuelled today by reports that a second firm was considering an offer.