National Express in talks over Stagecoach takeover

Long-distance coach operator, National Express, which also has significant local bus operations in the UK, has confirmed it is in talks over a possible takeover of Stagecoach. The takeover would value Stagecoach's business at £445m.  The combined group would be owned 75% by National Express and 25% by Stagecoach.

The news is being reported in detail on a number of business-focussed webpages, so rather than attempt to repeat it, here are a number of relevant links.

Financial Times: National Expess in talks to buy Stagecoach

The Guardian: National Express in talks to buy rival Stagecoach

London Evening Standard Stagecoach and National Express in merger talks

Daily Business: National Express in talks to acquire Stagecoach

All reports confirm that National Express would be the major partner in the combined group and most suggest that the motivation for the move is the fall out from the pandemic, which has seen both companies' share price halved and huge losses in passenger numbers over the last eighteen months.

Under takeover rules, National Express has until October 19th to confirm its bid.