Forth Ports bid submitted by Arcus
Forth Ports has been targeted in a new bid from Arcus.
Forth Ports, Britain's sole remaining independent listed ports company, has been targeted by a new bid.
Private investment firm Arcus, which is also the business' largest shareholder, has made an offer of £750 million, in a move which could prompt the need for negotiations.
Forth Ports bosses have agreed to share its financial information with the bidder and made a statement on the issue.
"On the basis of this indicative proposal, the board has agreed that Arcus can undertake certain confirmatory due diligence," said the managers.
This marks the second time in two years Forth Ports has been targeted. In 2010, a consortium failed to acquire the firm after it submitted a bid for £640 million.
The company owns a group of ports located around Scotland, Tayside and the Port of Tilbury, in London.
Forth Ports moves around nine million tonnes of cargo each year and handles 2.5 million tonnes of dry cargo at its Grangemouth facility.