Britain’s Hanson PLC revealed that it was...

Britain’s Hanson PLC revealed that it was the mysterious party that had built up a stake in Columbus, Ind.-based Cummins Engine Co. In a filing with the Securities and Exchange Commission, Hanson said it held 886,800 shares, or 8.32%, of Cummins’ stock and was seeking U.S. government approval to acquire up to 15% of the world’s largest independent diesel-engine maker. The stock surged $8.875 to $67 a share in brisk trading on the New York Stock Exchange after gaining $6.75 in the two previous days on takeover speculation. At the current price, Cummins is valued at $708 million, but analysts expect any bid would be considerably higher.