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LONDON (AP) - Associated British Ports Holding PLC, Britain's largest ports operator, said Tuesday it has opened its books to a bid consortium after receiving an improved takeover offer worth 2.44 billion pounds ($4.6 billion). Shares in AB Ports soared 15 percent.
The company, which owns 21 ports across Britain, rejected an earlier 2.2 billion pound ($4.1 billion) approach from the Goldman Sachs-led consortium in March as "wholly inadequate."
However, it said Tuesday that it is giving the consortium — which includes Canadian investment house Borealis Infrastructure Management and Singapore-based GIC Special Investments — a limited period following a revised offer of 8.10 pounds ($15.25) per share.
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