The board of National Express on Wednesday night paved the way for a £765m takeover of the British bus and rail group after it agreed to allow a consortium comprising its largest shareholder to examine its books. The move could eventually see NatExpress broken up between its rival Stagecoach, Spain’s Cosmen family, which owns 18.5% of NatExpress, and buyout firm CVC Capital. The consortium last week raised its indicative cash offer for NatExpress to 500p a share from the spurned 450p offer.

This entry was posted by Gwen Robinson on Thursday, September 10th, 2009 at 4:59 and is filed under Capital markets, M&A, Private equity. Tagged with Cosmen, cvc, NatExpress, stagecoach. Edit this entry.