Will National Express pay the price for rail franchise debacle
After handing back the East Coast rail franchise it looks as though National Express's days of independence could be numbered. It has been revealed that a wealthy Spanish family and private equity group CVC capital partners have teamed up to make an offer for the group which is believed to be in the region of £500 million. However, the value of National Express on the stock market is currently around £530 million amid rumours that the management is trying to obtain a higher price.
The current share price is £3.45 and many believe the company could finally go for as much as £4 which would value the group at around £620 million. The company has been in the news for all the wrong reasons over the last few months and aside from the East Coast franchise debacle we have seen chief executive Richard Bowker leave the ship and the group amass a £1.2 billion debt mountain.
There had been rumours that competitor First Group could make an offer for National Express although nothing has yet materialised. If you are looking to invest in National Express, or any other company on the stock market, it is vital that you take independent financial advice before doing so.
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