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Article: United Kingdom: National Express Bid Deadline Extended Three Weeks To Oct. 16.
- Article from:
- TendersInfo
- Article date:
- September 26, 2009
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The U.K. Takeover Panel Friday gave CVC Capital Partners and the Cosmen family a further three weeks to formalize their GBP765 million offer for bus and rail company National Express PLC. The "put up or shut up" deadline has been extended until 1600 GMT Oct. 16. It had been due to expire at that hour Friday.
Buyout shop CVC and members of the Cosmen family, National Express' largest shareholder with an 18.7% stake, increased their indicative offer Sept. 3 to 500 pence a share in cash for the entire share capital of National Express, after two previous indicative offers were rejected.
The bidders have confirmed that any formal offer wouldn't be ...