Financial Times reported that Go-Ahead has received two separate takeover bids, sending the UK public transport company’s share price soaring in London trading.
The Newcastle-based business confirmed that it had received unsolicited approaches regarding possible cash offers from Australian transport company Kelsian Group, and a consortium comprising bus group Kinetic Holding Company and Globalvia Inversiones in Spain.
The board of Go-Ahead said the latest proposals come after it evaluated approaches from Kelsian and the consortium, with the advice of investment bank Rothschild.
The UK transport company said its response prompted both parties to submit improved terms, which have not been disclosed.
Shares in Go-Ahead jumped 19 % in early London trading. They have more than doubled this year. But their performance over the past 12 months were more muted, with Monday’s rise pushing the shares into positive territory since June last year.