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Mermaid reverses merger decision

FREMANTLE-BASED marine services company Mermaid Marine Australia Ltd has reversed an earlier decision to merge with Dubai Ports World subsidiary P&O Maritime Services Pty Ltd. Mermaid was to issue 221.9 million shares to DP World in return for 100 per cent of the shares in P&O Maritime Services Ltd and P&O Polar Australia Pty Ltd, resulting in DP World owning 60.4 per cent of Mermaid.

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