THE AUSTRALIAN-SPANISH consortium that intends to buy UKlisted Go-Ahead for £650m yesterday said it was not worried about a bidding war with the group's other suitor, tour operator
"Our offer presents a very strong premium," Michael Sewards, the chief executive of one of the consortium's two partners, Australian bus operator Kinetic, told City A.M.
"We think now more than ever this presents a very compelling case and we're confident it will be approved."
Made on Monday afternoon, the 1,450p per share full-cash offer represents a premium of 48.5 per cent to Go-Ahead's closing price on 25 May as well as a 77.6 per cent increase on the group's average price for the period ended 10 June.
The consortium's bid was accepted on Monday by the bus group's board, who considered it "fair and reasonable" and recommended it to shareholders.
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CONTINUED FROM PAGE 1 "This has been a number one target as it is our absolutely preferred business in the
Talking about the future, Kinetic's boss said the consortium - made up of Kinetic and Spanish transport infrastructure group
"We are looking to retain the existing business as a standalone business, with all team members to be retained as well as the chair and chief executive," said Sewards.
"We think [our approach] provides a lot of security for the people in the business but also for the suppliers and manufacturers who provide services to Go-Ahead."
The company said on Monday it had also received an approach from
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