The Philippines’ International Container Terminal Services Inc (ICTSI) (ICT.PS) said on Thursday it was studying its options on its takeover bid for Singapore’s Portek International (PKIL.SI).
Japanese trading house Mitsui & Co (8031.T) said on Wednesday it had an agreement to acquire majority control of Portek after launching a $221 million bid for the port operator, offering a higher price than that of ICTSI.
Shares of ICTSI were up 1.2% in mid session on Thursday, outpacing a gain of 0.3% in the broader market index <.PSI>.
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