Deutsche Bahn Shells Out $2.4B For UK-Based Arriva

Law360, New York (April 22, 2010, 4:23 PM EDT) -- Deutsche Bahn AG has reached a deal to acquire British passenger transit business Arriva PLC for the equivalent of more than $2.4 billion in cash, or about $12 per share, strengthening the German rail service giant's share of the European passenger transit market.

The companies announced the deal to investors on Thursday, stating that the proposed deal would be implemented through a British court-sanctioned scheme of arrangement under Part 26 of the Companies Act 2006.

By taking on Arriva, Deutsche Bahn would acquire a leading operator...
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