National Express said the merger of the two companies would “bring the best of both” firms to the tie-up and allow them to expand further in an “increasingly ‘bus-friendly’ UK market”. It reiterated aims to save at least £45m a year from the merger.
In this post
Is National Express owned by Stagecoach?
Transport group Stagecoach has ditched its backing of a £1.9bn merger with National Express and agreed to a higher rival £595m takeover. The firm is recommending an acquisition by investor DWS Infrastructure for 105p a share in cash.
What is happening with the Stagecoach takeover?
Bus operator Stagecoach [SGC] is set to delist from the London Stock Exchange by the end of June following its recent £600m acquisition by European infrastructure fund Inframobility UK.
Who has bought over Stagecoach?
National Express has launched a last-ditch effort to win over Stagecoach shareholders after its takeover was gatecrashed by a German investment group. Stagecoach initially backed a merger with National Express in December but switched allegiance last week when DWS made a £595million cash offer.
Has National Express been taken over?
National Express outbid on Stagecoach acquisition as transport group accepts £595m takeover offer from European fund giant. Stagecoach Group has told shareholders to approve a rival takeover bid for the firm, all but sinking a proposed merger it had previously agreed with National Express.
Who owns National Express buses?
In February 1999, Robinson Bus Service was purchased followed in August 1999 by Durham Transportation. These acquisitions placed National Express as one of the top three United States school bus operators.
Who is buying Stagecoach?
DWS Infrastructure
Stagecoach Group Plc: The international transport company agreed a deal to be bought by a fund managed by German company DWS Infrastructure, trumping a deal agreed last year with National Express Group Plc.
The consideration to which those Stagecoach Shareholders will be entitled will be held by Stagecoach as trustee on behalf of those Stagecoach Shareholders who have not accepted the Offer. Stagecoach Shareholders may still accept the Offer, which remains open for acceptance until 5.00 p.m. on 5 July 2022.
The bid by DWS Infrastructure to purchase Stagecoach in its entirety took a major step forward on 20 May after the DWS subsidiary Inframobility UK Bidco met the required level of shareholder acceptance. Its offer of 105p per share, which values Stagecoach at £595m, has thus become unconditional.
Current Price
| 104.70 | |
|---|---|
| 0.00 | 0.0% |
Is Megabus owned by Stagecoach?
megabus.com is part of Stagecoach Group, the leading international transport operator, which employs 36,000 people and operates 12,000 buses, coaches, trains and trams in the UK and North America.
Has Stagecoach bus company been sold?
Stagecoach left the long-distance express coach market in 1988 when it sold its operations to National Express.
Are National Express coaches comfortable?
Sit back and relax. Buying a National Express ticket means you’re guaranteed a comfortable seat. Plus, there’s plenty of legroom and air-conditioning controls too.
How does National Express make money?
National Express makes most of its money from providing bus and coach services. The business is split into four geographic reporting segments: the UK, North America, Spain & Morocco, and Germany. Three-quarters of the company’s revenue came from outside the UK in 2019.
Is National Express owned by the government?
The National Express brand was first used in 1974 although the coach services continued to be operated by the individual companies. Coach services were deregulated under the Transport Act 1980, and buses by the Transport Act 1985. In March 1988 National Express was privatised in a management buyout.
How many buses does National Express own?
A fleet of roughly 130 buses and coaches serving the Dundee area, Xplore Dundee was the first major operator in Scotland to operate with 100% low floor, easy access buses on local services.
Is Stagecoach Group A Good Investment?
Stagecoach stock shot higher
And when Stagecoach shares were on their knees back in October 2020, they proved to be a good purchase. Shareholders buying around 37p last autumn saw the stock soar as high as around 108p by April 2020.
How to buy shares in Stagecoach Group
- Choose a platform. If you’re a beginner, our share-dealing table below can help you choose.
- Open your account.
- Confirm your payment details.
- Search the platform for stock code: SGC in this case.
- Research Stagecoach Group shares.
- Buy your Stagecoach Group shares.
Who are Inframobility UK Bidco Limited?
Inframobility UK Bidco Limited is indirectly wholly owned by Pan-European Infrastructure III, SCSp (PEIF III), an infrastructure fund managed and advised by DWS Infrastructure.
Is National Express a good buy?
National Express Group has received a consensus rating of Buy. The company’s average rating score is 3.00, and is based on 4 buy ratings, no hold ratings, and no sell ratings.
DETAILED SHARE PRICE TODAY
| Price: | 158.50p | Open: |
|---|---|---|
| Change | -3.35p | Close |
| Change % | -2.07% | Bid/Offer |
| Updated | 16:44 19/08/22 | Day High/Low |
| Volume | 6,491,614 | Year High/Low |