Smithfield takes on port account

Smithfield has been drafted in to handle what may become a contested bid for port operator PD Ports.

The firm is advising the Endeavour Ports consortium on its £246m offer for PD. The latter recommended the deal last week.

But PD, an AIM-listed Tees and Hartlepool operator, which is represented by The Hogarth Partnership, this week received a preliminary takeover approach from Sydney-based group Babcock & Brown.

Endeavour is 50 per cent owned by Australia's Industry Funds Management.

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