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    NEX   GB0006215205

NATIONAL EXPRESS GROUP PLC

(NEX)
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National Express : buys time in merger

10/19/2021 | 01:21am EST

NATIONAL Express has been granted more time to decide whether to pursue a merger with rival Stagecoach.

The firm had been due to decide on taking forward the deal by this afternoon but an agreement with the Takeover Panel will see that deadline extended to the middle of next month.

National Express confirmed on September 21 that it was looking into a combination with the UK's largest bus operator, reducing costs for both parties.

"Discussions between the parties and reciprocal due diligence remain ongoing and there can be no certainty that an offer will be made," read statements by both firms to markets yesterday.

The offer would value Stagecoach at around £445m.

National Express shares fell by 3.39 per cent yesterday after the news, and Stagecoach tumbled by 3.22 per cent.

Even if a deal is struck, a pact is likely to land on the desk of the competition regulator, which may look unkindly on a sizable increase in market share.

Stagecoach is currently in the middle of industrial disputes, with bus drivers across the country pushing for industrial action over demands for higher pay.

(c) 2021 City A.M., source Newspaper

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Analyst Recommendations on NATIONAL EXPRESS GROUP PLC
More recommendations
Financials
Sales 2021 2 267 M 3 025 M 3 025 M
Net income 2021 -30,7 M -41,0 M -41,0 M
Net Debt 2021 1 181 M 1 576 M 1 576 M
P/E ratio 2021 -109x
Yield 2021 -
Capitalization 1 312 M 1 748 M 1 751 M
EV / Sales 2021 1,10x
EV / Sales 2022 0,84x
Nbr of Employees 47 971
Free-Float 87,2%
Chart NATIONAL EXPRESS GROUP PLC
Duration : Period :
National Express Group PLC Technical Analysis Chart | NEX | GB0006215205 | MarketScreener
Technical analysis trends NATIONAL EXPRESS GROUP PLC
Short TermMid-TermLong Term
TrendsBearishBearishBearish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus BUY
Number of Analysts 7
Last Close Price 214,00 GBX
Average target price 335,00 GBX
Spread / Average Target 56,5%
EPS Revisions
Managers and Directors
Jose Ignacio Garat Group Chief Executive Officer & Director
Chris Davies Group Chief Financial Officer & Director
John A. Armitt Chairman
Matthew Crummack Senior Independent Non-Executive Director
Ashley Steel Independent Non-Executive Director