Stagecoach trying to by Travel West Midlands

[Tony]

The news article from 1991 including a very young and upset Brian Souter
https://www.youtube.com/watch?v=McY5DFirXsg&feature=youtu.be

[winston]

That's potentially 4 times Mr Souter has now been knocked back trying to get his hands on WMT/TWM/NXWM:

1. 1991 in favour of the ESOP bid, even though Stageocoach were the highest bidders
2. I understand Stagecoach & other bus groups made rival bids for WMT when it was announced they were merging with NX
3. Agreed a secondardy deal with CVC capital/Cosmens to buy NX's UK businesses if their takeover bid was sucessful
4. Stagecoach then approached NX direct with a merger proposal when the above bid collapsed when CVC pulled out

Will their be a 5th attempt in the future......?

[PM]

It's an interesting video that. Obviously I'm glad Stagecoach didn't buy WMT otherwise there would be absolutely no small operators left whatsoever but I agree with him that the highest bidder should win in normal circumstances. What he's forgetting is that at the time, ESOP sales were allowed to be up to 10% less-correct me if I'm wrong. So of course their winning bid would have been lower...

[williamposh]

That's potentially 4 times Mr Souter has now been knocked back trying to get his hands on WMT/TWM/NXWM:

1. 1991 in favour of the ESOP bid, even though Stageocoach were the highest bidders
2. I understand Stagecoach & other bus groups made rival bids for WMT when it was announced they were merging with NX
3. Agreed a secondardy deal with CVC capital/Cosmens to buy NX's UK businesses if their takeover bid was sucessful
4. Stagecoach then approached NX direct with a merger proposal when the above bid collapsed when CVC pulled out

Will their be a 5th attempt in the future......?

What's your evidence for number 4?

[winston]

That's potentially 4 times Mr Souter has now been knocked back trying to get his hands on WMT/TWM/NXWM:

1. 1991 in favour of the ESOP bid, even though Stageocoach were the highest bidders
2. I understand Stagecoach & other bus groups made rival bids for WMT when it was announced they were merging with NX
3. Agreed a secondardy deal with CVC capital/Cosmens to buy NX's UK businesses if their takeover bid was sucessful
4. Stagecoach then approached NX direct with a merger proposal when the above bid collapsed when CVC pulled out

Will their be a 5th attempt in the future......?

What's your evidence for number 4?

http://www.telegraph.co.uk/finance/newsbysector/transport/6456895/National-Express-rejects-1.65bn-merger-bid-by-Stagecoach.html
http://www.express.co.uk/finance/city/136100/Big-investors-divided-on-Stagecoach-bid-for-National-Express
http://news.stv.tv/scotland/133529-stagecoach-takeover-bid-of-national-express-halted/

At the same time NXWM buses were being repainted allover white / with only 'West Midlands' fleetnames & no mention of NX

[richie]

That's potentially 4 times Mr Souter has now been knocked back trying to get his hands on WMT/TWM/NXWM:

1. 1991 in favour of the ESOP bid, even though Stageocoach were the highest bidders
2. I understand Stagecoach & other bus groups made rival bids for WMT when it was announced they were merging with NX
3. Agreed a secondardy deal with CVC capital/Cosmens to buy NX's UK businesses if their takeover bid was sucessful
4. Stagecoach then approached NX direct with a merger proposal when the above bid collapsed when CVC pulled out

Will their be a 5th attempt in the future......?

What's your evidence for number 4?

http://www.telegraph.co.uk/finance/newsbysector/transport/6456895/National-Express-rejects-1.65bn-merger-bid-by-Stagecoach.html
http://www.express.co.uk/finance/city/136100/Big-investors-divided-on-Stagecoach-bid-for-National-Express
http://news.stv.tv/scotland/133529-stagecoach-takeover-bid-of-national-express-halted/

At the same time NXWM buses were being repainted allover white / with only 'West Midlands' fleetnames & no mention of NX

It was close...... Very close!

[winston]

That's potentially 4 times Mr Souter has now been knocked back trying to get his hands on WMT/TWM/NXWM:

1. 1991 in favour of the ESOP bid, even though Stageocoach were the highest bidders
2. I understand Stagecoach & other bus groups made rival bids for WMT when it was announced they were merging with NX
3. Agreed a secondardy deal with CVC capital/Cosmens to buy NX's UK businesses if their takeover bid was sucessful
4. Stagecoach then approached NX direct with a merger proposal when the above bid collapsed when CVC pulled out

Will their be a 5th attempt in the future......?

What's your evidence for number 4?

http://www.telegraph.co.uk/finance/newsbysector/transport/6456895/National-Express-rejects-1.65bn-merger-bid-by-Stagecoach.html
http://www.express.co.uk/finance/city/136100/Big-investors-divided-on-Stagecoach-bid-for-National-Express
http://news.stv.tv/scotland/133529-stagecoach-takeover-bid-of-national-express-halted/

At the same time NXWM buses were being repainted allover white / with only 'West Midlands' fleetnames & no mention of NX

It was close...... Very close!

That's what I thought, literally hours away.

I'm glad it never came off & NX managed to stay an independent group

[williamposh]

It wasn't that close and that was not the reason the West Midlands only fleet names were applied

[winston]

It wasn't that close and that was not the reason the West Midlands only fleet names were applied

Why were the 'West Midlands' only fleetnames applied at the same time then? Were the allover white buses also not related to the Stagecoach merger offer?

[Gareth]

I overheard a conversation between what appeared to be Stagecoach management a short time after the deal fell through. Apparently Satgecoach had a lot of their people either out traveling the routes, or just observing the operations from street level, getting as much info from how TWM were doing things.

[Bob]

Uuuuuuuuuurrrrrgh just imagine the west midlands full of stagecoach livery. ...

[the trainbasher]

@Bob it's better than the half bothered attempt we have now!!

[winston]

Uuuuuuuuuurrrrrgh just imagine the west midlands full of stagecoach livery. ...

And ADL buses...   

[the trainbasher]

Although we'd have the E400MMC sooner...and quite possibly the ex first wigan Gemini's...to replace some spectras. I think that magic bus would have been put in place on the 002 and both the Volvo b6s, Mercs and solos would have gone by now...

[winston]

Although we'd have the E400MMC sooner...and quite possibly the ex first wigan Gemini's...to replace some spectras. I think that magic bus would have been put in place on the 002 and both the Volvo b6s, Mercs and solos would have gone by now...

We may also of also had cascaded MAN/ALX300's & Dart/ALX200's

Our a garage full of Megabuses

I was happy to see NX Group remain independent, I could still see the big five, becoming the big four in the future & potentially involving NX Group