9am Briefing: Peel abandons £640m Forth Ports takeover bid

PEEL Group and its consortium partners have abandoned a £640 million proposed offer for rival Forth Ports, ending a three-month takeover bid.

The Northstream consortium, which holds a 27.4 per cent stake in Edinburgh-based Forth, had been given a 1 June deadline by the Takeover Panel after Forth rejected a third bid in last month.

The company yesterday said that "economic uncertainty" meant it was not able to improve on a previously rebuffed 640 million proposal.

Forth has a large property interest in the regeneration of Edinburgh's waterfront, where nearly 16,000 homes are planned over the next 30 years.

Big names for Festival

THE National Theatre of Scotland has unveiled a series of big names for its Edinburgh Festival programme.

Actress and Deacon Blue vocalist Lorraine McIntosh has been confirmed for the cast of Beautiful Burnout, a gritty new drama.

She is joined by actor Ewan Stewart, best known for his role as Officer Murdoch in James Cameron's film Titanic.

Beautiful Burnout will open in the Pleasance Forth, a brand new space at the Pleasance Venue.

MPS in court over expenses

THREE former Labour MPs and a Tory peer accused of fiddling their expenses have all appeared in court for a preliminary

hearing.

Former Livingston MP Jim Devine, Elliot Morley, David Chaytor and Conservative peer Lord Hanningfield – real name Paul White – appeared at Southwark Crown Court yesterday for a preliminary hearing in their case.

They face various charges of false accounting under the Theft Act.