Go-Ahead offer accepted

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Go-Ahead has announced that at a General Meeting held in connection with the recommended cash offer by Gerrard Investment Bidco, the bidding company owned by Kinetic and Globalvia, shareholders voted by a majority to of more than 75% accept the previously reported offer of 1,550p per share.

In July, the Group said that it expected to achieve profits above those of the previous two years, and is just one British bus operating group to have attracted attention from overseas buyers recently, which seem keen to cash in on low valuations and the financial stability that Government support is creating for the sector.

The sale values the Group at around £669m.