National Express Rejects Stagecoach Disappointment As Transport Group Ends Merger Talks with Bus Giant
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Summary
STAGECOACH, the Perthbased bus and rail giant, yesterday said it was "very disappointed" after rival National Express severed last- gasp merger talks in favour of an anticipated GBP400m rights issue to help pay down its near GBP1bn mountain of debt.
National Express said it was concerned that a Stagecoach deal could not be completed before Christmas - when it faces GBP5m in penalty interest payments on the debt pile.See the full content of this document
Extract
National Express Rejects Stagecoach Disappointment As Transport Group Ends Merger Talks with Bus Giant
There was also a risk that competition regulators would delay or even block the merger that would have created a transport group with an estimated market valu...
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