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ABP accepts takeover bid

PUBLISHED: 12:43 14 June 2006 | UPDATED: 11:00 22 October 2010

Lowestoft, King's Lynn and Ipswich ports look set to move into foreign ownership with the news that their owner has accepted a north American bid of nearly £2.

Lowestoft, King's Lynn and Ipswich ports look set to move into foreign ownership with the news that their owner has accepted a north American bid of nearly £2.5bn.

Associated British Ports is on the verge of following airports operator BAA into foreign ownership after backing the £2.48bn takeover deal.

AB Ports, which has 21 sites, said it had reached agreement with a consortium led by US investment bank Goldman Sachs and backed by Canada's largest pension fund.

The agreement comes after three months of speculation over a possible deal and just a few days after BAA backed a £10.3bn takeover proposal from Spanish construction firm Ferrovial.


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