Forth Ports to seek deal intervention

City A.M. Reporter
BRITAIN’S last remaining ports company Forth Ports will this week ask the Takeover Panel to issue a “put up or shut up” deadline to its suitor, the Northstream consortium, it is understood.

The consortium, made up of investors Arcus and Peel Group and RREEF, an arm of Deutsche Bank, is expected to walk away.

A spokesman for Forth Ports would not confirm the group would ask the Takeover Panel to intervene.

He said: “We have got a business to run for the benefit of all shareholders.”

Nobody at the Northstream consortium was immediately available for comment.

Forth Ports is currently valued at £618m.