Shares in AB Ports surge on bid speculation

Shares in the UK’s biggest ports operator surged ahead today amid speculation that it could be about to receive a £2.3bn (€3.3bn) takeover offer.

Investors jumped aboard Associated British Ports after financial newspaper City AM said a consortium backed by Goldman Sachs and Canadian investment house Borealis Infrastructure planned an approach early next month.

AB Ports, which operates from 21 sites in the UK and employs more than 3,000 people worldwide, saw its share price rise by more than 5% to a level close to the mooted offer price of 740p a share.