British rail operator rejects U.S. takeover bid – Railway Age

An American private equity firm has been rebuffed in its attempt to acquire a major provider of passenger rail services in Great Britain.

The board of bus and rail operator First Group has unanimously rejected a cash offer from Apollo Global Management of New York, saying the offer “fundamentally undervalues the company and is opportunistic in nature.” British rail operator rejects U.S. takeover bid – Railway Age

 

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