Last week Arriva share holders voted to accept a take over bid from German railway operator Deutsche Bahn. The vote was 85% in favour, at £7.75 a share. This amounts to a total of £1.59bn.
Arriva had become the third largest bus operator in the UK, after First Group and Stagecoach. Now it has been swallowed by an even bigger beast.
Deutsche Bahn has over 500 subsidiaries. It describes itself as the second-largest transport company in the world. It is the largest railway operator and infrastructure owner in Europe, and it carries about two billion passengers each year.
There’s a strong possibility of other takeovers in the UK bus industry at the moment, with National Express the most likely target. Last year both First Group and Stagecoach tried to acquire it.