Both companies at the centre of a reported £650m takeover bid this morning have refused to comment on the speculation.

National media reports about a by Old Mutual for wealth management firm Quilter Cheviot remain unconfirmed.
The two parties have told Financial Planner Online their stance has not altered since a previous story about a bid in September.
Both reports came from Sky News, which said last month Old Mutual, the FTSE-100 financial services group, had been rebuffed in an attempt to acquire Quilter.
Bridgepoint, the private equity firm which controls Quilter Cheviot, released a short statement pouring cold water on the report at the time. It came amid plans for an initial public offering flotation. The firm issued the same statement again this morning.

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It said: "Inevitably when IPO plans are being prepared there is parallel speculation and rumours about alternatives. We never comment on such rumours."
Bridgepoint acquired Quilter in 2012. Quilter, which has company roots established in 1771, has over £15.7 billion in assets and 37,500 clients across the UK, in Dublin and Jersey, according to its website.
Old Mutual, the parent company of Skandia, has funds under management of £293.8bn and employs 56,812 people.