Go-Ahead accepts €753m takeover bid

Go-Ahead stock closed 12% higher Monday and added a further 15% early Tuesday, trading at 1,550 pence as of 9:11am in London

Takeovers of UK transport companies have been picking up as investors bet on a rebound in post-Covid travel and seek the steady, long-term returns offered by government-backed contracts

Go-Ahead Group Plc, the biggest operator of London’s commuter trains and iconic double-decker buses, accepted a £648m (€753m) takeover bid from an investor group backed by Australian transportation firm Kinetic Holding Co.

Shareholders of Go-Ahead will receive a total of 1,500 pence per share in cash, according to a statement Monday. That represents a 24% premium to Go-Ahead’s closing price on Friday, the last full trading day before Bloomberg News reported takeover interest in the company.