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National Express seals takeover of rival operator Stagecoach
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National Express and rival Stagecoach have sealed an all-share deal that will forge a £1.9bn transport operating group.
The proposed merger is expected to complete in late 2022, bringing Stagecoach’s UK local bus operations together with National Express’s intercity coach network.
Stagecoach, which has shrunk back after selling its US operations and being squeezed out of UK rail, will be valued at about £500m, a third of National Express. Its Megabus intercity coach operation will be sold off, to alleviate any competition concerns.
The group will be headquartered at National Express’s home in the West Midlands, where it runs most bus services. The combined group will have a 40,000-strong vehicle fleet and employ about 70,000 people. National
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