PD Ports subject to takeover approach, shares jump 12%
The board of PD Ports, owner and operator of Teesport in the United Kingdom, told the London stock exchange Wednesday it has been approached about a takeover.
“This approach is of a preliminary nature, and there is no certainty that it will result in an offer,” PD Ports said in a statement.
The company would not provide further comment as to the identity of its potential buyer, although speculation is circulating that Australia’s Macquarie Bank, which has just bought the Isle of Man Steam Packet Co. and Westpac subsidiary Hastings Fund Management, which owns ports in Australia, are both interested.
PD Ports’ share price jumped 12 percent to '1.26.5 ($2.23) at the close of business yesterday.