LONDON, Sept 21 (Reuters) - British transport company
Stagecoach Group said it was in talks with rival
operator National Express about a possible all-share
merger, which would result in cost savings and provide new
growth opportunities.
Under the terms of the potential deal, Stagecoach
shareholders would receive 0.36 new National Express shares for
each Stagecoach share, giving them a 25% stake in the larger
group.
"Discussions between the parties and reciprocal customary
due diligence remain ongoing and there can be no certainty that
any offer will be made," Stagecoach said in its statement on
Tuesday.
(Reporting by Sarah Young; Editing by Kate Holton)
