|
Kelsian Group Ltd on Thursday confirmed it will not make an offer to buy UK transport provider Go-Ahead Group PLC, as Go-Ahead reiterated its support for a rival takeover bid by a consortium of Kinetic Tcp Pty Ltd and Globalvia Inversiones Sau.
Kelsian, a bus and ferry operator in Australia, Singapore and the UK, explained that since it first announced a possible offer for London-listed Go-Ahead on June 14, its own share price in Sydney has fallen due to volatile equity markets.
‘The Kelsian board consider that Australian equity market conditions at this time do not enable Kelsian to pursue a possible transaction for Go-Ahead despite the long-term strategic and economic rationale of the potential transaction for Kelsian,’ it explained.
Kelsian shares closed up 15% at A$6.24 on Thursday, though they remain down 5.6% in the past six months.
Meanwhile, Go-Ahead re-affirmed its support for a £647.7 million takeover from a consortium consisting of Kinetic Holding and Globalvia Inversiones, which is worth 1,500 pence per share.
Go-Ahead shares were down 2.9% at 1,486.00 pence each in London on Thursday afternoon.
The Go-Ahead shareholder meeting to approval the takeover will take place on August 8.
Copyright 2022 Alliance News Limited. All Rights Reserved.
|
