
Bid talk delivers Business Post rise
Troubled parcel delivery company Business Post soared 7.5 per cent, the biggest riser in the FTSE 250 yesterday on speculation of a takeover approach. The founding Kane brothers, Michael and Peter, own 52 per cent between them and there are rumours that a global operator such as Holland’s TNT has approached them about buying their stake. Such a move would force a bid for the whole company, which after yesterday’s rise of 25 dp to 368p has a market value of GBP200million. Other predators could include UPS of the US and Deutsche Post, although the latter may have competition issues since it bought Britain’s Exel in October for GBP3.7 billion.
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