Forth Ports has allowed Arcus European Infrastructure Fund to start due diligence investigations on an offer that values the UK’s last independent listed port operator at about £745m.
Arcus which holds a 22.8% stake in Forth, made an indicative off of £16.30 a share on Monday – 16% higher than that made by Northstream last May, which Forth spurned. Forth is expected to recommend Arcus’s offer. Forth closed up 82p at £16.05.
08/03/11 Financial Times 22, 36
Times 36, 41, 45
Daily Telegraph B6, B7
Independent 33, 40
