New bid trumps Stagecoach-National Express merger

Business

Peter Stonham
14 March 2022
 

Stagecoach Group has told shareholders to approve a rival takeover bid for the firm, effectively sinking the merger it had previously agreed with National Express (LTT 17 Jan).

The recommended new 105p-per-share offer, valuing Stagecoach at £595m, comes from Inframobility, whose owner is a fund managed by German asset manager DWS Infrastructure.

The approach represents a premium of more than one-third on its prior closing share price  and is over 50% higher than the share price the...

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