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The Guardian - UK
The Guardian - UK
Business
Katie Allen

Arriva jumps on Deutsche Bahn bid reports

Arriva Buses in London
Arriva Buses in London. The company's shares are up 3% on reports of a Deutsche Bahn bid. Photograph: Frank Baron

Transport company Arriva is hogging the top spot among the FTSE 250 risers today as more news trickles out on a big from German rail operator Deutsche Bahn.

The takeover of one of Britain's largest public transport groups by Deutsche Bahn could be agreed by the end of the month, according to reports this weekend. Today, Reuters quotes sources saying Deutsche Bahn plans to offer €2.7bn including debt for Arriva. The deal for 775p per Arriva share would be financed with new bonds.

Shares in the Sunderland-based group that operates most of London's red buses, as well as most rail services in Wales and the CrossCountry rail franchise are up 21.5p, or 2.9%, at 758p, having hit 764.5p at one point today.

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