GLOBAL - A Goldman Sachs-led consortium including Borealis, the OMERS-owned Canadian infrastructure investment vehicle, has agreed to buy Associated British Ports (ABP) for £2.5bn, it emerged today.
The consortium, dubbed Admiral Acquisitions, and supported by the Ontario Municipal Employees and Retirement System vehicle and the private-equity division of the Singapore Government Investment Corp, offered 810 pence in cash.
It is reportedly a sweetener of a previously-rejected takeover proposal at 730p in March.
Markets sources say a rival bid could still scupper the agreed deal, with speculation placing the Macquarie Bank of Australia in the frame.
The investment bank is likely to be keen to cement the deal, having been elbowed out of its bid for BAA by Spanish services group Ferrovial about eight days ago.
By Lisa Haines
Businesses are experiencing auto-enrolment data error rates of up to 50%, posing questions over the reliability of pension records, Pensionsync says.
A nationwide survey of committee and local pension board members of the Local Government Pension Scheme has revealed high levels of confidence in all areas of their responsibility.
UK inflation unexpectedly rose to 2.7% in August, beating analysts' expectations of a drop to 2.4% from 2.5% the previous month.