Arriva jumps on Deutsche Bahn bid reports

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.