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.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
The U.S. Food and Drug Administration said it now intends to review only a small subset of new emergency use authorization or EUA requests for diagnostic tests. As per an updated COVID-19 test policy with a view to ensure continued access to tests, the regulator further urged developers of all test types seeking marketing authorization to pursue traditional premarket review for most test types. Netflix, Inc. said it is adding a new feature to offer a more personalized mobile games experience on the platform. In a statement, Sophia Yang, Product Manager, Mobile Games, said the company is rolling out the ability to create game handles, with which members will be able to create a unique public username. This can be used across all Netflix games. General Motors Co. has delayed its plan to require employees to return to office many days a week until next year, reports said citing an internal memo signed by CEO Mary Barra. Last week, the company had announced that corporate workers would be required to return to respective offices at least three days a week, beginning later this year, as the COVID-19 pandemic eases.
Follow RTT