PD Ports confirms second takeover offer

PD Ports confirms second takeover offer    PD Ports, owner and operator of the United Kingdom ports Teesport and Hartlepool, this morning confirmed it has received a second takeover offer from an unnamed bidder, following last week’s '246 million ($425 million) cash offer from Endeavour Ports Ltd.
   In a brief statement to the London stock exchange, PD Ports said: “Following press speculation over the weekend, the board of PD Ports plc confirms that it has received an approach from a further party. This party is conducting due diligence in accordance with the requirements of Rule 20.2 of the Takeover Code and therefore it is not possible to say whether this approach will result in a further offer being made for the company.”
   Shares in PD Ports jumped about 5 percent to '1.47 ($2.55) at 11.00 a.m. local time today. Endeavour Ports’ offer amounts to '1.42 ($2.45) per share.