£445m price tag
National Express in talks to acquire Stagecoach
Stagecoach shareholders would own 25% of the group
National Express has confirmed that it is negotiating a takeover of Stagecoach in an all-shares deal that values the Scottish firm at £445 million.
Under the terms of the proposed deal Stagecoach shareholders would receive 0.36 new National Express ordinary shares for each Stagecoach ordinary share.
The boards of Stagecoach and National Express said they believe that combination would be a “strategically compelling proposition” with the potential to realise significant growth and cost synergies, as well as delivering strong value creation for both sets of shareholders.
They say it would enhance its ability to invest in an “attractive and diversified” pipeline of high-return growth opportunities in North America and ALSA.