Deutsche Bahn could sell Arriva to Stagecoach
The German railway operator Deutsche Bahn wants to sell its big British bus operator Arriva. Deutsche Bahn has asked potential buyers to express their interest by May 3. Rival bus company Stagecoach is rumoured to be interested.
Unions at Tata are unconvinced by Thyssenkrupp merger
Tata's European Works Council (EWC), which includes Unite as well as sister British and Dutch unions has thrown doubt on the merger with the German steel giant Thyssenkrupp. It has specifically underlined that it is against the sale of the Trostre tinplate works near Llanelli as well as other proposed measures.
Billionaire Philip Day wants to buy Bonmarche and cut jobs
Jobs and shops at struggling fashion chain Bonmarche could be under threat after UK billionaire Philip Day launched a takeover bid, promising to close underperforming stores and to restrict spending to a bare minimum. The board has rebuffed the offer, claiming it undervalues the company. It also claimed that it has been planning its own “cost reduction actions”. Day already owns other clothing companies including Peacocks, Austin Reed and Jaeger.
L&Q all set for £4bn takeover of Trafford Housing Trust
Trafford Housing Trust is set to become a wholly-owned subsidiary of L&Q, a London-based housing association it has been working in a joint venture with since 2016. L&Q and Trafford are now in talks about the takeover, with the aim to complete the acquisition in June 2019.
Sainsbury's-Asda merger blocked by regulator
Following on from its damning report in February, the Competition and Markets Authority (CMA) has now blocked the Sainsbury's-Asda merger. Speculation about the future of Asda (which is unloved by its owner, Walmart) now focuses on a buyout by private equity, or possibly even Amazon.