Metro operator in Arriva takeover link

Mar 18 2010 By Karen Dent, The Journal

Foreign takeovers

EARLIER this month one long-standing North East firm was snapped up a foreign competitor.

Newcastle-based marketing and advertising agency Robson Brown was bought by Round2 International from the US.

The new US owners said it intended to use the Newcastle base to expand across the UK and Europe.

Just days earlier South Shields-based clothing importer Visage was snapped up by Hong Kong Li & Fung for £173m.

Less than a week ago Washington-based Tanfield said it has been approached by its American partner with an offer to buy its Smith Electric Vehicles division for £37m.

The Kansas-based division said it had plans to eventually float the company on the US stock market.

And Newcastle-based stock market listed Chieftain Group was bought by the Yorkshire-based Redhall Group in October 2008.

Engineering firm Chieftain, which employs around 600 staff, is a leader in the oil and gas and energy fields.