Coach operator’s takeover would value UK’s biggest bus company at about £445m
National Express is in talks to buy Stagecoach, the UK’s largest bus operator, in an all-share deal to create a business with a fleet of 36,000 buses and coaches.
Stagecoach shareholders would receive 0.36 new National Express shares for each Stagecoach share they own, handing them 25% of the combined group.