Second bid for National Express Group

摘要

National Express Group plc revealed on July 23 that it had received 'an approach in connection with a possible offer for the group from another third party whose intentions are not yet known', following the 'highly preliminary approach' made by FirstGroup plc last month (RB1345 p5).rnThe second bidder was later revealed to be a consortium of funds advised by CVC Capital Partners and interests of the Cosmen family which is NEG's largest shareholder with an 18.6% stake. The consortium's proposal was subject to preconditionsrnincluding retention of c2c following change of control and extension of NXEA to April 2014.