BREAKING NEWS – Forth Ports accepts US$ 1.24bn offer

Earlier this month (March) Forth announced that it had received an approach from Arcus and that its Board had agreed that Arcus could undertake certain confirmatory due diligence.

Under the terms Forth Ports shareholders will be entitled to receive 1,630 pence in cash for each Forth Ports share. In addition the shareholders will be entitled to receive and retain the proposed final dividend of 20 pence per share expected to be paid on 13 May 2011.

The offer together with the proposed final dividend, values Forth Ports at approximately £760 million (US$1.24bn). Arcus has received irrevocable undertakings from the Forth Ports Directors to vote in favour.