Associated British Ports has rejected a takeover bid of 730 pence a share saying that it is “wholly inadequate”.
The bid, described as a “non-binding indicative offer” was made by a consortium made up of Borealis Infrastructure Management, an investment vehicle directed by GIC Special Investments, and Goldman Sachs International.
Associated British Ports, is the UK¹s largest ports group. Its 21 ports, which include Southampton, handle almost a quarter of the country¹s seaborne trade. The group owns and operates AMPORTS in the USA, which handles vehicle imports and exports and provides auto-processing services. The group employs around 3,000 people, mainly at port locations in the UK and USA.