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Stagecoach share price soars as company approves rival takeover

•1 min read•March 9, 2022

Stagecoach is now backing a sale to investor DWS Infrastructure.

By Alina Ivanov
Alina Ivanov
Investomania Financial Market News

National Express’ takeover of rival Stagecoach has been gazumped by German asset firm DWS.

The British bus operator Stagecoach has dropped its support for a merger with National Express, instead agreeing to be taken over by DWS Infrastructure, part of German asset management firm the DWS Group, driving the proposed £1.9 billion merger off the road.

In a sudden U-turn, the Scottish transport group said it was now recommending a sale to the fund managed by DWS Infrastructure for 105p a share in cash, and has withdrawn support for the National Express bid that valued Stagecoach at £445 million.

The Stagecoach share price soared 38% this morning, to sit around the £1.05 per share price of the new bid.

Tags UK Stocks, Stagecoach, FTSE All-Share Index

Not Investment Advice Note: Views expressed are those of the writer. The author does not own any stocks mentioned. The article is information, not advice. Share prices can rise and fall. Past returns are not a guide to the future. Please do your own research.

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