Forth Ports Takeover Deal Sunk By Market Jitters
By Shaun Milne
FORTH Ports has fought off a planned take-over by a consortium hoping to snap up the Edinburgh based business which has backed out blaming “economic uncertainty” for their decision.
The consortium – made up of Arcus, RREEF, and Peel Holdings – had planned to add it to their current portfolio of harbours which includes Clydeport’s facilities in Manchester, Hunterston, Ardrossan and Greenock.
However directors at Forth Ports insisted Northstream’s valuation of their business at £640m – or £14 a share – was short of what they thought it was worth.
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