Simon Group climbs on port takeover report

LONDON, April 8 (Reuters) – Shares in British ports and logistics company Simon Group Plc (LSE: SMON.L – news) climbed on Monday after weekend newspapers reported that a British ports operator had plans to take over Simon’s Humber Sea Terminal, dealers said.
By 0739 GMT, shares in Simon Group, which has been seeking a buyer since January following a strategic review, were up 9.32 percent at 64-1/2 pence.
Britain’s Sunday Telegragh and Sunday Times reported that Britain’s largest ports operator Associated British Ports was teaming up with venture capitalists 3i in an attempt to take over Simon’s roll-on, roll-off Humber Sea Terminal.
The papers said that if the bid was successful, it would give ABP complete control of the estuary while 3i would take over all other assets, including liquid bulk storage and distribution.
ABP was not immediately available for comment.