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Macquarie to get look at AB Ports books

The Macquarie Bank-led consortium caught up in a battle for the UK's biggest port operator will get a look at the books of takeover target Associated British Ports.

The Macquarie consortium is ready to gatecrash a bid by the Admiral Acquisitions group led by US investment bank Goldman Sachs, which had been agreed to by AB Ports.

The Macquarie consortium has proposed a rival takeover offer worth at least STG2.58 billion ($A6.47 billion), which would match Admiral's latest bid which it increased in response to early indications of Macquarie's interest.

Macquarie would not comment but The Daily Telegraph in London said AB Ports had agreed to let the Australian investment bank carry out due diligence.

The share price of AB Ports, which has 21 ports in the UK and handles around 25 per cent of the nation's sea-borne trade, hit an all-time closing high of 871.50 pence Thursday with the market expecting the bidding war to hot up.



For 62p, a year of the Queen or a minute of England v Portugal

Buckingham Palace dug deep into its reserves of hubris yesterday to come up with a topical World Cup analogy for the Queen's cost to the nation.

In previous years, Alan Reid, the keeper of the privy purse, has compared the 80-year-old monarch to the price of a loaf of bread and two pints of milk. This time, issuing the Royal Public Finances annual report, he claimed that the purely notional annual cost of Her Majesty to her subjects was 62p a head, or a minute's worth of attendance at Saturday's England versus Portugal match.

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Worst holiday ever: week 13

The Sunday Times is now into its 13th week in the search for the most disastrous, most wake-up-screaming-in-the-night holiday ever, - and the stories don't stop coming. The 'best' story of the week will be published in the newspaper that weekend - and at the end of 2006, the one adjudged to be the most truly appalling will win the holiday of a lifetime. Post your bleak memories at the end of the article, in 200 words if possible please! .



Plane ruckus only passenger 'paranoia,' says lawyer

A 37-year-old man who allegedly rushed the cockpit of a Northwestern flight bound for Hawaii and threatened to kill a 3-month-old infant on board had no intention of interfering with the flight crew or harming anyone, his attorney said.

Santiago Lol Tizol, a Guatemalan who has been working in the United States legally and was headed here to work, went on trial yesterday before U.S. District Judge Michael Seabright. He is charged with interfering with a flight crew by assault and intimidation, a felony punishable by up to 20 years in federal prison.

"Things that are charged in this case did not occur on this flight," said Assistant Federal Defender Matthew Winters as the trial opened. What happened on board Flight 91 on Dec. 9, 2005, stemmed from paranoia by the passengers who disregarded the decision of the chief flight attendant and decided to take matters into their own hands, he said.



UK. Highs & lows of opening weekend of Honda Formula 4S Powerboat ...

The Isle of Man saw a fantastic weekend of powerboat racing in Douglas Bay as the first round of the 2006 Honda Formula 4-Stroke Series got under way. Competitors had to contend with varying conditions as a windy Sunday morning turned Saturdays calm water into stormy seas. Ebel got off to a flying start in the 150hp Series securing first place in both races following the unfortunate disqualification of Sundays 150hp winners Manx Radio Racing after first time driver Chris Kinley swapped places with navigator Nick Warren. Despite a fantastic race, competition regulations meant the officials were forced to disqualify the pair as any change of driver contravenes race rules. The rest of the race weekend witnessed some exceptional racing with teams eager to get back into their boats after a long closed season.



Sports Round-up

Rahul Dravid completed his 23rd Test hundred and Mohammed Kaif hit his maiden Test century as India dominated play before tea on the second day of the second Test against the West Indies yesterday.

India gave the home side a torrid time at the Beausejour Cricket Ground and had reached 584 for seven in their first innings by the interval.

Dravid, India's captain, was dismissed by the penultimate ball before lunch for 146, with Kaif still unbeaten on 145. The first Test was drawn.

Boxing

Audley Harrison's new trainer, Buddy McGirt, says the British heavyweight boxer can be a champion again.

McGirt believes the Sydney Olympics gold medallist's troubles are just mental and that he can recover after two poor defeats.

Harrison won his first fight with McGirt on Friday; he stopped Andrew Greeley in the third round in Atlantic City, New Jersey.



News Digests - 6-28-2006

OCEAN CITY - Ocean City police officers pulled two unidentified men from the surf June 25 about 7:30 p.m. Called to the Eighth Street beach here along with firefighters, police saw the two men in the water and in distress. Using floatation devices and a tether rope, three officers went into the water and managed to pull the men to safety. The swimmers had scrapes and cuts on their legs and stomachs from being forced against a drainage pipe by the rough surf and a rip current. They were evaluated at the scene and did not need medical treatment.

Later Guards Earlier
OCEAN CITY - City council approved extended lifeguard hours at the Eighth, Ninth and 12th street beaches starting last weekend. In the past, July 4 was the normal start for the extended hours on Friday and Saturdays, which keep guards on the beach until 7 p.m.