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....as FirstGroup Rejects £1.2bn takeover bid

Business

16 June 2022
 

Britain’s biggest bus and train operator FirstGroup has rejected a £1.2bn takeover proposal from a US private equity firm, after its board determined the offer was too low.

The company said it had carefully reviewed the proposal from I Squared Capital, but concluded that the 118p a share cash offer “significantly undervalues FirstGroup’s continuing operations and its future prospects”.

It also said that another portion of the company’s offer, which would see...

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