Forth Ports share price peaks amid Macquarie takeover speculation
The share price of the United Kingdom’s Forth Ports reached a new peak Tuesday of '20 ($38.2 million) following renewed speculation that Australian investment bank Macquarie is preparing an offer.
Macquarie Bank has been chasing port investments for some time, missing out earlier in the year with failed last-minute attempts to buy Associated British Ports Holdings and Patrick Corp., before finally agreeing September to purchase 40 percent of Hanjin Shipping’s terminal assets in Taiwan, Japan and the United States for about $870 million.
It followed that up earlier this month, through its New York-based offshoot Macquarie Infrastructure Partners, by agreeing to buy Halterm Ltd., the operator of the South End Container Terminal at the Port of Halifax in Canada.
Forth Ports operates seven ports in Scotland, mainly in the Forth Estuary, and the Port of Tilbury on the Thames in England.
Forth Ports share price peaks amid Macquarie takeover speculation
