Takeover approach made to Arriva

Mar 17 2010 By nebusiness

Bus and rail firm Arriva today confirmed it had received a takeover approach amid reports of interest from a European rival.

Shares in Arriva raced 14% higher following the statement from the group, which comes after a 2% rise seen yesterday as rumours emerged that German transport operator Deutsche Bahn was eyeing the firm for acquisition.

But Arriva did not reveal the identity of its suitor, saying only that it had received an "unsolicited approach from a third party".