ICTSI has offered S$1.20 for each Portek share, valuing the Singapore firm at around S$180 million ($146 million). The June 1 offer was a 69 percent premium to the market price at the time.
"It was an unsolicited offer from them so we are still studying that," Portek's Chief Executive Larry Lam told Reuters on the sidelines of an industry conference on Tuesday.
"We have to take the opinions of all into consideration and then make a decision on that to the benefit of everyone."
Portek shares have surged more than 70 percent since the offer was made, closing at S$1.21 on Monday.
Portek, which operates and manages ports in Indonesia, Algeria, Malta, Gabon and Rwanda, has hired Malaysian bank CIMB to advise it on the potential takeover.
ICTSI's Far East unit, which owns 4.82 percent of Portek, made the conditional offer through financial adviser HSBC. (Reuters)
