Shares in airport group TBI are trading at a three-year high after it confirmed it had received an approach from a possible buyer. Over the past two years the UK-based company, which owns Luton, Cardiff and Belfast International has been subject to periodic takeover speculation.
TBI has refused to comment on the identity of the potential bidder.
The speculation is that it is either a private equity firm or Australian airport business Macquarie.
Macquarie, which has refused to comment on the reports, holds interests in the UK's Bristol and Birmingham airports.
Low-cost carrier boost
In January, German construction group Hochtief said it was no longer considering a bid for TBI.
And back in 2001 French construction group Vinci walked away from an approach shortly after the September 11 attacks, which led to a major downturn in the world's travel industry and hit TBI's shares.
TBI has said it was benefiting from expansion by low cost airlines carriers Easyjet and Ryanair.
Earlier this week it said pre-tax profits for the six months to the end of September had risen 167% to �19.2 ($35.6m), compared with 2003.
TBI shares, which rose 13% on Thursday, closed up 0.75p at 86.5p in London on Friday, valuing the company at about �481m.
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