National Express owner in talks over £282m Spanish takeover

Summarised from 2 outlets · Updated 21 Oct, 13:03 · Archive

Mobico, which owns National Express, is in takeover talks with Spanish transport company Autobuses de Leon at 46p per share.

Mobico, the parent company of National Express, confirmed on Wednesday morning that it is in talks with Spanish transport firm Autobuses de Leon over a £282 million takeover. AdL has proposed acquiring Mobico for 46p per share, representing a 56% premium on the previous day's closing price. Mobico's share price jumped around 33% to 39.5p following the announcement.

Mobico said it has evaluated the proposal with advisers and is 'minded to recommend' the deal to shareholders should AdL proceed with a formal offer. The company noted that no certainty exists the offer will materialise. AdL is backed by CMC Group, which holds a roughly 26% stake in Mobico. Mobico has recently reduced its operations through disposals, including selling its remaining UK regional bus operator to the West Midlands local authority and its US school bus arm for £457 million last year.

How it is being reported

• National Express owner in talks over £282m takeover dealMobico shares jumped by around 33% to 39.5p after the talks were confirmed on Wednesday morning.Evening Standard · 21 Oct, 12:39
• National Express owner in talks over £282m takeover dealMobico shares jumped by around 33% to 39.5p after the talks were confirmed on Wednesday morning.Independent Business · 21 Oct, 12:39

In this story: Mobico · National Express · Autobuses de Leon · CMC Group · Birmingham · Spain

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