Stagecoach has given National Express more time to decide whether it wants to pursue an acquisition of the firm.
Talks over a potential merger between the two coach firms were formally confirmed last month, and have been ongoing.
The two companies said a deal would result in significant savings, such as National Express using Stagecoach’s depot network while allowing the operator to expand into private hires, corporate shuttles and accessible transport using Stagecoach’s existing presence.
National Express said these savings could eventually amount to "at least £35 million".
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Stagecoach has given National Express more time to decide whether it wants to pursue an acquisition of the firm.
Talks over a potential merger between the two coach firms were formally confirmed last month, and have been ongoing.
The two companies said a deal would result in significant savings, such as National Express using Stagecoach’s depot network while allowing the operator to expand into private hires, corporate shuttles and accessible transport using Stagecoach’s existing presence.
National Express said these savings could eventually amount to "at least £35 million".
On Monday (18 October), Stagecoach issued a statement to the London Stock Exchange confirming it had requested an extension to the date by which National Express is required to give a definitive answer on whether it makes a bid or not.
The new deadline is now 5pm on Tuesday 16 November, although both parties have stated this could be further extended at the request of Stagecoach.
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