Goldman Sachs ups offer for AB Ports

Goldman Sachs upped its takeover offer for the UK’s biggest ports company today as it attempted to head off interest from a rival consortium.

The US investment bank took the value of its offer for AB Ports to £2.58bn (€3.8bn), an increase of almost £100m (€146m), after learning last night that a group including Australian bank Macquarie was also considering an approach.

AB Ports, which owns 21 UK ports including sites at Hull, Grimsby and Southampton, announced yesterday it was backing a takeover by Goldman, which is supported by other investors including Canada’s largest pension fund.