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Article: United Kingdom: National Express suitors given three-week extension to bid deadline.

Article from:
TendersInfo
Article date:
September 30, 2009
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The consortium seeking a [pounds sterling]765 million takeover of struggling transport group National Express has been granted another three weeks to seal a deal.

It is the second time that Edgbaston-based National Express s largest shareholder Spain s Cosmen family and buy-out firm CVC have received an extension to the put-up-or-shut-up deadline to commit to a bid.

The City s Takeover Panel has set a new deadline of 5pm on Friday, October 16, having previously asked for a verdict by September 11 and then last Friday.

National Express s independent board recently agreed to let the consortium carry out due diligence on the business to push the ...

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