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.1 month ago
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