Reliance looking to takeover ICI

British Newspaper reports the following

"Takeover fever shows no sign of slowing down and another long-speculated bid story cropped up again yesterday. The industrial chemicals and paint group ICI is thought to be in the cross hairs for a bid either from Akzo Nobel or the Indian group Reliance, and shares in ICI broke through 500p for the first time since April 2000 to close 7p firmer at 501p."