The UK’s Panel on Takeovers and Mergers has agreed to extend the date by which National Express must confirm its intention to make an offer for Stagecoach to no later than 5pm on 16 November 2021.
On 21 September 2021, Stagecoach Group and National Express Group announced that they were in discussions in relation to a possible all-share combination.
The initial deadline for an offer from National was 19 October 2021 – and it is that date that has now been extended.
A statement issued by Stagecoach today said that discussions between Stagecoach and National Express had continued, with their respective management teams and advisers working constructively to progress reciprocal due diligence.
Stagecoach is one of the largest bus operators in the UK. Since 1980, it has run express and local bus services across the country.
National Express Group is an international public transport operator, diversified internationally and by business area, with operations in North America, continental Europe, the UK and North Africa.