National Express Considers Terms Of Its Proposal For Stagecoach To Be Full And Fair

National Express (NEX.L) confirmed that its proposal for the all-share merger with Stagecoach at an exchange ratio of 0.36x is final. The National Express Board noted that the proposed exchange ratio represents a current value of 90 pence per Stagecoach share and an illustrative look-through value of approximately 113 pence per Stagecoach share, a 7% premium to the DWS offer.

The Board of National Express stated that it continues to encourage Stagecoach shareholders to take no action in relation to the DWS offer.

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