PD Ports stock gets a rise from down under

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Shares in PD Ports have risen more than 13% after it announced that it had received a preliminary bid approach which appears to be from an Australian bank.

The operator of Teesport and Hartlepool, which is listed on the London stock exchange, said that it had received an approach that might or might not lead to an offer for the company. The announcement is understood to have been prompted following an article in yesterday’s (October 19, 2005) Australian Financial Review saying that an Australian bank was interested in taking the company over.

PD Ports stress that: “This approach is of a preliminary nature and there is no certainty that it will result in an offer.”

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