StockMarketWire.com - Bus and train company National Express has been given more time to make a firm takeover bid for rival Stagecoach.

The extension, to 14 December, has been granted as the two companies continue to complete due diligence.

'Reciprocal due diligence is now at an advanced stage and constructive discussions between Stagecoach and National Express are ongoing,' the companies said.

'The boards of Stagecoach and National Express continue to believe that the potential combination would be a strategically compelling proposition delivering strong value creation for both sets of shareholders.'


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