Deutsche Bahn buys Britain's Arriva for 1.585 billion pounds
Germany's national rail company Deutsche Bahn on Thursday said it had agreed to buy British transport operator Arriva for 1.585 billion pounds (1.827 billion euros, 2.447 billion dollars) in cash.
"The boards of directors of Deutsche Bahn and Arriva are pleased to announce that they have reached agreement on the terms of a recommended cash offer," the German group said in a statement published by the London Stock Exchange.
"Under the terms of the acquisition, Arriva Shareholders will receive 775 pence in cash for each Arriva share they hold, valuing the entire issued and to be issued share capital of Arriva at approximately 1.585 billion pounds."
© 2010 AFP