News Blog for the Essex Rail Users Federation - www.eruf.org
Tuesday, 28 July 2009
NX Takeover - 'Put Up Or Shut Up'
National Express (NX) is understood to have asked the Takeover Panel to impose a 'Put Up or Shut Up' deadline on the takeover approach from CVC, the private equity group and the Cosmen family from Spain. (see comment dated 24th July)
The order would force the prospective bidders into making a firm offer within four weeks or walking away. NX is anxious to end uncertainty and also wants to press on with a rights issue if it is not taken over.