Perth -based transport giant Stagecoach has become the centre of a bidding war after National Express launched a last-ditch effort to save its takeover plans following a rival bid from a German asset manager.
The initial £450 million offer for the local bus operator was initially welcomed in December, until last week it was gazumped by a 105p a share £595 million cash deal from German group DWS Infrastructure.
The new proposition to join with DWS, a division of Deutsche Bank, was welcomed by local politicians but will still have to be approved by shareholders.
