Shares sinking for Forth Ports
SHARES in Forth Ports plummeted by 13 per cent after Peel Group consortium and its partners abandoned its £640 million proposed takeover bid.
The Northstream consortium had been given a 1 June deadline by the Takeover Panel after Forth rejected a third bid approach in April at 1,400p a share.
On news of the consortium's withdrawal, shares yesterday dropped 12.8 per cent or 163p, to 1,112p.
The plunge wiped around 130 million off Edinburgh-based Forth's stock market value.
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Sunday 27 May 2012
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