Announced
Financials
Tags
Acquisition
Majority
United Kingdom
Friendly
Private Equity
Private
Transportation Services
transport operator
Cross Border
Single Bidder
Failed
Synopsis
I Squared Capital, a private equity firm, withdraws its $1.5bn offer to acquire FirstGroup, a bus and train operator. "The board, having carefully evaluated the Proposal together with its advisers, concluded that the cash component significantly undervalues FirstGroup's continuing operations and its future prospects, and the contingent value does not provide shareholders with sufficient certainty," FirstGroup.
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