There's been speculation of a rail hub near East Midland Airport or Toton Sidings between Nottingham and Derby.

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And hundreds of trains were cancelled on two Sundays in 2004 on the Midland Mainline, connecting London with Bedfordshire, Northamptonshire, the East Midlands and Sheffield.

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This latest offer represents a premium of just 6% to the firm's closing share price on 1 August, before BMI British Midland's "surprising" decision to withdraw Heathrow and East Midlands services from Belfast International, part of the TBI portfolio.

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