Offers made to takeover Go-Ahead
Go-Ahead Group has received unsolicited approaches for a takeover of the company.
Kelsian Group Ltd and a consortium consisting of Kinetic Holding Company Pty Ltd and Globalvia Inversiones S.A.U have made the offers.
The approaches are for possible cash offers for the entire issued, and to be issued, share capital of the company.
Kelsian Group is the Australian transport provider that owns London bus operator Tower Transit, as well as other transport and tourism operations across the globe. Globalvia is a transport infrastructure specialist and Kinetic operates buses in Australia and New Zealand.
Initial offers from both parties have already been made, but revised bids were submitted following Go-Ahead and its financial advisor’s evaluations.
The most recent revised proposals received from each of Kelsian and the consortium are both at a level which, should a firm offer be made, the Board of Go-Ahead would be minded to recommend such a firm offer to Go-Ahead shareholders.
Go-Ahead is the latest of the ‘big five’ operators to receive a takeover offer, with Stagecoach and First receiving similar bids in recent months. First rejected its offer from I Squared last week, while Stagecoach has agreed an offer with German investment firm DWS.