Forth Ports (LON:FPT) announced that Arcus' European Infrastructure Fund has agreed to make an indicative conditional offer for the company of 1,630 pence in cash per share.
The offer values the UK’s only listed ports operator at £746 million.
The board has agreed that Arcus can undertake certain confirmatory due diligence.
Back in December, Forth Ports reported that trading overall within the ports in Scotland and Tilbury was in line with its expectations, as was underlying profit before tax for the full year.
The stock has soared from 1,350 pence at the start of the year to the current price of 1,600 pence. Shares in Forth Ports climbed 5 percent on today’s news.
Arcus makes £746 million offer for Forth Ports
Last updated: 03:27 07 Mar 2011 EST, First published: 04:27 07 Mar 2011 EST