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Babcock in £260m bid for ports operator

Support services firm Babcock & Brown has made a £260 million takeover

offer for ports operator PD Ports.

Babcock's offer trumps a bid from Australian

consortium Endeavour, which valued the company at £246 million and

had previously been backed by the board of the North East-based ports

operator.

PD Ports directors are recommending the latest bid is accepted by

shareholders of the group, whose PD Teesport is Britain's second

largest port by volume.

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