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US suitor pulls out of FirstGroup acquisition bid

Summary by Ground News
FirstGroup suitor I Squared Capital has pulled out of its acquisition plan for the Aberdeen-headquartered transport business. The Miami-based private equity firm delivered a final proposal of 135p per share, with further contingent value from the earn-out of the former First Transit subsidiary in North America. FirstGroup's board and advisors concluded that this offer significantly undervalues the business.

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US suitor pulls out of FirstGroup acquisition bid

Transport firm's board concludes final bid 'significantly undervalues' its current and future prospects

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businessinsider broke the news on Wednesday, August 17, 2022.
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