Stagecoach set to bid for National Express

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The Independent Online

Stagecoach, the transport company, is considering launching a potential all-share takeover offer for rival National Express.

Stagecoach is poised to join the bidding for the ailing bus and rail group, alongside the Spanish family-run transport group Cosmen and private equity firm CVC. Cosmen and CVC made an informal approach to National Express last week and a £600m cash offer could come as early as this week.