"TDG received a £225m bid yesterday, but analysts believe that may not be the end of the story. Private equity group Laxey, which owns 22% of TDG, is offering 275p a share in cash, less a promised 8.75p dividend, and says it wants to back the transport group's management and strategy"
http://www.guardian.co.uk/business/2008/feb/28/marketforces.bhpbilliton