The offer is said to be at a 69 percent premium to market prices.
According to Reuters, Manila-based International Container Terminal Services Inc “offered S$1.20 for each Portek share, valuing the port operator at around S$180 million ($146 million).”
The company's ICTSI Far East Pte Ltd unit owns 4.82 percent of Portek, a turnkey provider of port equipment, services and solutions.
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