SHEERNESS Docks workers face an uncertain future after news that its parent company is in takeover talks.

Medway Ports, owned by Mersey Docks and Harbour, is in talks about a £722m takeover from a private equity house, believed to be CVC Capital.

Medway's spokesperson Maria Clarke said last month that a takeover of the group could result in separate companies being broken up and sold, posing a risk to job security.

Mersey, Britain's second biggest ports company, also runs ports in Chatham, Liverpool and Heysham.

A company statement said it considered the bid to be an attractive one that reflects the value of the business.

Shares in the company dropped two per cent after the announcement, down 23.5p to 937p. The bid represents a value of 925p per share.

Analysts say the offer was fairly low and investment holding group Peel Holdings is expected to make a higher counter-bid.

CVC is an independent buy-out firm that manages around £5bn in equity capital and has made more than 250 acquisitions totalling more than £20bn.