Goldman Sachs Buying Largest British Ports Firm

British ports firm has accepted a $4.6 billion takeover bid from New York investment firm Goldman Sachs Group and partners, Bloomberg reported Wednesday.

Associated British Ports Holdings Plc, the United Kingdom’s biggest port company, owns 21 ports stretching from the southern England to northwest Scotland, Bloomberg reported.

The move is the third takeover of a British ports owner in the past six months, Bloomberg said.

President Bush named the company’s chairman Henry Paulson to be Treasury Secretary in late May, and on Wednesday, the Wall Street Journal reported the investment firm’s second-quarter profit more than doubled.