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National Express receives extension for Stagecoach takeover deadline

Tue, 16th Nov 2021 08:01

(Sharecast News) - Public transport operators Stagecoach and National Express said on Tuesday that the deadline for their potential merger had been extended to 14 December, with reciprocal due diligence now at an advanced stage as "constructive discussions" between the pair regarding the possible all-share combination continued.
Stagecoach and National Express stated that the boards of both firms continue to believe that a potential combination would be "a strategically compelling proposition", capable of delivering strong value creation for both sets of shareholders.

However, as discussions between the parties remained ongoing, both companies highlighted that there was no certainty that an offer would be made.

The duo entered talks in September regarding the all-share offer, which valued Stagecoach at £445.0m.

National Express said it had identified pre-tax cost synergies that were expected to reach a run-rate of at least £35.0m, with around 25% achieved by the end of the first year, 85% by the end of the second year and full run rate by the end of the third year, following completion of the deal.

As of 0900 GMT, National Express shares were up 0.66% at 242.80p and Stagecoach shares were 2.81% firmer at 78.55p.
More News
10 Mar 2022 08:48

TOP NEWS: National Express mulls options after Stagecoach rejection

(Alliance News) - National Express Group PLC on Thursday posted a narrowed annual loss and said it is "considering its options" after being spurned by Stagecoach Group PLC.

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10 Mar 2022 07:54

LONDON MARKET PRE-OPEN: Balfour ups dividend; DS Smith trades in line

(Alliance News) - Stock prices in London were called to open lower on Thursday with the European Central Bank and US inflation figures taking centre stage while hope for peace in Ukraine emerges.

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10 Mar 2022 07:07

National Express delivers improved FY performance as demand recovers

(Sharecast News) - Public transport operator National Express said on Thursday that full-year revenue, underlying earnings and pre-tax profits had all improved year-on-year in 2021 as demand for its services recovered "significantly" during the period.

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9 Mar 2022 18:25

StageCoach takes different route after new suitor trumps National Express bid

March 9 (Reuters) - British bus and rail operator StageCoach on Wednesday backed a 594.9 million pound ($780 million) takeover offer from a European infrastructure fund that trumps a bid by rival National Express.

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9 Mar 2022 17:08

LONDON MARKET CLOSE: Stocks rise amid hopes to settle Ukraine conflict

(Alliance News) - Stocks in London on Wednesday were attempting to claw back steep losses incurred since Russia's invasion of Ukraine as investors grew hopeful a diplomatic solution could be found.

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9 Mar 2022 12:21

LONDON MARKET MIDDAY: Stocks attempt to rally after Russia oil ban

(Alliance News) - European stocks bounced back on Wednesday, surging into positive territory around midday after a difficult week so far, as investors go searching for bargains.

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9 Mar 2022 11:06

SMALL-CAP WINNERS & LOSERS: Stagecoach ditches National Express bid

(Alliance News) - The following stocks are the leading risers and fallers among London Main Market small-caps on Wednesday.

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9 Mar 2022 10:22

UPDATE: National Express notes rival Stagecoach takeover offer

(Alliance News) - National Express Group PLC on Wednesday noted the announcement by Stagecoach Group PLC that it has accepted a new cash takeover offer and no longer recommends the all-share merger previously agreed with National Express.

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9 Mar 2022 09:05

LONDON MARKET OPEN: Stocks surge after more Russia sanctions

(Alliance News) - European stocks raced ahead at the open on Wednesday with the confirmation of a ban on Russian oil not sapping renewed investor optimism.

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9 Mar 2022 09:00

TOP NEWS: Stagecoach changes horses, accepts new cash takeover offer

(Alliance News) - Stagecoach Group PLC has walked away from its all-share merger with larger UK peer National Express Group PLC, opting for a cash offer instead.

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9 Mar 2022 08:23

LONDON BRIEFING: Stagecoach and National Express both up after jilting

(Alliance News) - Stagecoach has walked away from its all-share merger with larger UK peer National Express, opting for a cash offer instead.

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9 Mar 2022 07:58

LONDON MARKET PRE-OPEN: Stagecoach disembarks from National Express

(Alliance News) - Stock prices in London were set to rise at the open on Wednesday but are likely to remain volatile after the US and UK announced Tuesday they are cutting off imports of Russian oil, in the most far-reaching action yet by Western allies to punish Moscow for invading Ukraine.

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9 Mar 2022 07:56

National Express out of the running as Stagecoach agrees takeover by DWS

(Sharecast News) - Stagecoach said on Wednesday that it no longer plans to recommend a £470m takeover by National Express, after agreeing to be bought by an infrastructure fund managed and advised by DWS Infrastructure, in a £594.9m deal.

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3 Mar 2022 16:01

UK earnings, trading statements calendar - next 7 days

Friday 4 March 
FBD Holdings PLCFull Year Results
Hammerson PLCFull Year Results
Morgan Advanced Materials PLCFull Year Results
Monday 7 March 
Blackbird PLCFull Year Results
Downing Renewables & Infrastructure Trust PLCFull Year Results
HgCapital Trust PLCFull Year Results
MTI Wireless Edge LtdFull Year Results
Tuesday 8 March 
Ashtead Group PLCQ3 Results
Bakkavor Group PLCFull Year Results
Capital & Regional PLCFull Year Results
Capricorn Energy PLCFull Year Results
Clarkson PLCFull Year Results
ConvaTec Group PLCFull Year Results
Direct Line Insurance Group PLCFull Year Results
Domino's Pizza Group PLCFull Year Results
Engage XR Holdings PLCFull Year Results
Fresnillo PLCFull Year Results
Glenveagh Properties PLCFull Year Results
Greggs PLCFull Year Results
Gresham Technologies PLCFull Year Results
H&T Group PLCFull Year Results
IWG PLCFull Year Results
John Menzies PLCFull Year Results
John Wood Group PLCFull Year Results
Johnson Service Group PLCFull Year Results
Keller Group PLCFull Year Results
M&G PLCFull Year Results
Made.com Group PLCFull Year Results
Midwich Group PLCFull Year Results
Robert Walters PLCFull Year Results
Wednesday 9 March 
888 Holdings PLCFull Year Results
Alfa Financial Software Holdings PLCFull Year Results
Biffa PLCFull Year Results
Breedon Group PLCFull Year Results
Costain PLCFull Year Results
Foresight Solar Fund LtdFull Year Results
Headlam Group PLCFull Year Results
Ibstock PLCFull Year Results
Kier Group PLCFull Year Results
Legal & General PLCFull Year Results
Network International Holdings PLCFull Year Results
Prudential PLCFull Year Results (at 0400 GMT)
Quilter PLCFull Year Results
Somero Enterprises IncFull Year Results
STV Group PLCFull Year Results
TClarke PLCFull Year Results
TT Electronics PLCFull Year Results
Tullow Oil PLCFull Year Results
Thursday 10 March 
AMTE Power PLCHalf Year Results
Balfour Beatty PLCFull Year Results
Boohoo Group PLCTrading Statement
Brooks Macdonald Group PLCHalf Year Results
Capital LtdFull Year Results
DS Smith PLCQ3 Results
Forterra PLCFull Year Results
Funding Circle Holdings PLCFull Year Results
Hill & Smith Holdings PLCFull Year Results
IG Group Holdings PLCFull Year Results
James Fisher & Sons PLCFull Year Results
Just Group PLCFull Year Results
National Express Group PLCFull Year Results
Oakley Capital Investments LtdFull Year Results
Savills PLCFull Year Results
Secure Income REIT PLCFull Year Results
Spirax-Sarco Engineering PLCFull Year Results
Spirent Communications PLCFull Year Results
Volution Group PLCHalf Year Results
  
Copyright 2022 Alliance News Limited. All Rights Reserved.

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15 Feb 2022 09:00

Zenobe signs deal with UK's National Express for 130 electric buses

LONDON, Feb 15 (Reuters) - Zenobe has signed an agreement to provide 130 electric buses to public transport group National Express that will see the UK startup provide everything from new vehicles to charging infrastructure, replacement batteries and spare parts.

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