Independent journal on economy and transport policy
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ICTSI withdraws own offer for the acquisition of Portek International
The economic value of the proposal advanced from the Philippine group is inferior to that of the offer introduced successively from the Japanese Mitsui & Co.
August 1, 2011
The terminalista group Philippine International Container Terminal Services, Inc. (ICTSI) has announced today the decision to withdraw own offer for the acquisition of the Portek International that is introduced two months ago ( on 1° June 2011).
ICTSI has explained to have then reexamined from all own possibilities regarding own offer and to have taken in consideration also the offer for the acquisition of the Portek introduced successively from the Japanese Mitsui & Co., proposed that - we remember - respect to a value of 1,20 dollars of Singapore cash of the offer advanced from ICTSI is based on an economic value of 1,40 dollars of Singapore for cash each action of Portek ( on 13 July 2011).
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