Ports Firm Declines $3.8 Bln. Takeover Bid, Journal Reports

British ports company with operations in the United States rebuffed a $3.8 billion takeover bid by a consortium of investors, the Wall Street Journal reported Thursday.

Associated British Ports said the bid was too low, the paper reported. The firm owns Amports, which runs U.S. automobile port terminals in California, Florida, Georgia and Maryland.

The firm declined a bid led by investment group Goldman Sachs, Borealis Infrastructure Management and the Singapore-based GIC Special Investments, the Journal reported. Borealis is part of Canada’s Ontario Municipal Employees Retirement System.