Mersey Docks could soon have a new owner

Peel Ports - owners of the Manchester Ship Canal and Liverpool's John Lennon Airport - is in talks with Mersey Docks over a £781m ($1.47bn) offer.

Its £10-a-share offer trumps an earlier bid from a private equity firm.

Mersey said Peel was finalising its financing arrangements and seeking a resolution with trustees of the Mersey pension fund over its deficit.

Mersey and Peel are close to agreeing the structure for the boards of the companies to consider Mersey Docks Check Mersey Docks' share price

Peel first approached Mersey - which operates the Port of Liverpool - in January with its bid proposal.

However, doubts over whether the bid would actually go through have driven shares in the company lower since then.