Approach confirmed

ANGLIAN Water s parent company, awg Group, has confirmed that it had received an approach that could lead to a takeover bid or merger. The group s profits trebled to £109million in the year to April, the company announced last spring. It would not name th

ANGLIAN Water's parent company, awg Group, has confirmed that it had received an approach that could lead to a takeover bid or merger.

The group's profits trebled to £109million in the year to April, the company announced last spring.

It would not name the suitor from which it had received a preliminary approach that might or might not lead to a formal bid, it said. The company notified the Stock Exchange last week after a 13 per cent hike in its share price. There were also smaller rises in shares of other water companies.