Arcus Offers $1.2B To Take Forth Ports Private

Law360, New York (March 22, 2011, 2:52 PM EDT) -- A unit of Arcus European Infrastructure Fund 1 LP said Tuesday it was offering $1.2 billion to buy all shares of Forth Ports PLC and take the commercial ports and recycling company private.

Arcus subsidiary Otter Ports Ltd.'s $26.69 per share offer also includes a final dividend for current shareholders. Arcus said the dividend would be paid to investors who accept the buyout offer as of April 15.

The companies said Tuesday that the proposed price marks an 8.3 percent premium over the share price of...
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