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News Lead Story: Issue Issue 04 16 Oct 2009

Spanish consortium pulls out of National Express bid

Andrew Garnett

Reports this morning indicate that the Cosmen family-led consortium that is bidding to acquire National Express Group has withdrawn its £765m offer for the business.

The family, with private equity partner CVC Capital, have been working on a deal since July. It was expected that they would complete due diligence today, a move that would have cleared the path for a formal offer to be made for the beleaguered group.

The Cosmens have instead announced that they will now back NEG's plans to...

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