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Go-Ahead Stock Up After Multiple Takeover Offers

Shares of Go-Ahead Group PLC (GOG.L) were gaining around 14 percent in the early morning trading in London after the public transport company received multiple takeover offers.

On Monday, Go-Ahead reached an agreement with a consortium, consisting of Kinetic Holding Company Pty Ltd and Globalvia Inversiones S.A.U., to be acquired for around 647.7 million pounds. Under the deal terms, Go-Ahead Shareholders will be entitled to receive 1,500 pence for each Go-Ahead Share. This comprises 1,450 pence in cash and a special dividend of 50 pence per Go-Ahead Share, in lieu of a final dividend for the year ending 2 July 2022.

Earlier, Go-Ahead confirmed receiving revised proposals from the consortium as well as Kelsian Group Limited. Go-Ahead then said both parties have been given access to undertake confirmatory due diligence.

Meanwhile, Kelsian now urged Go-Ahead shareholders to take no action at this time. The company confirmed that it has been in preliminary discussions with Go-Ahead in relation to a possible takeover proposal. The company said any such possible offer is likely to be in cash.

Kelsian said it continues to carefully assess the opportunity with a disciplined focus on the strategic and financial rationale.

In London, Go-Ahead shares were trading at 1,546 pence, up 13.68 percent.

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