Friday, 24 July 2009

Spanish Join National Express Bid

Following the announcement that an unnamed suitor has made a takeover approach for National Express, a major shareholder has joined with a private equity firm to formulate a possible takeover bid.

The Cosmen family from Spain, which owns 18.5% stake in National Express has teamed up with CVC Partners. CVC confirmed the consortium has made an initial proposal "to acquire for cash" all shares in National Express.

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