Mersey Docks now has two suitors

Peel Ports - owner of the Manchester Ship Canal and Liverpool's John Lennon Airport - has made an approach which could lead to a �781m ($1.47bn) bid.

The �10-a-share offer could trump a previous move by a private equity firm. Last week, Peel Ports spent �103.8m on doubling its stake in Mersey Docks to just over 25%.

"There is no certainty that an offer will be made [by Peel] nor as to the terms on which any offer might be made," Mersey Docks said.

Rival

In November, Mersey Docks revealed it had received a bid approach from a private equity firm the firm, which experts said could be worth �720m.

Reports said that CVC Capital was thought to be behind the move.

Mersey Docks operates ports at Liverpool, Heysham and the Medway towns of Sheerness and Chatham; shipping division BG Freight Line and also the logistics and transport business Roadferry.

In addition to Liverpool's John Lennon Airport and the Manchester Ship Canal, Peel Ports also operates Scotland's Clydeport and owns the Trafford Centre in Manchester. Other assets include the Glasgow Harbour development.