National Express and Stagecoach have agreed all-share deal that will create a £1.9bn transport operating group.
The proposed merger, which is expected to be completed in late 2022, will see Stagecoach’s UK local bus operations merged with National Express’s intercity coach network. Stagecoach will be valued at about £500m, a third of National Express. Its Megabus intercity coach operation will be sold off to reduce competition concerns.
The combined group will be...
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