Editing Mobico Group (section)

===Prospective takeover===
[[File:Parks of Hamilton HSK645 (8685502179).jpg|thumb|[[Park's Motor Group|Park's of Hamilton]] [[Plaxton Elite]] bodied [[Volvo B9R]] in [[Bolton]] in April 2013]]
With the company's finances under stress largely as a result of having overbid for the [[National Express East Coast]] rail franchise, National Express became a takeover target in 2009. In June 2009, a takeover offer from fellow transport operator [[FirstGroup]] was rejected.<ref name="NatExDeclinesBid">{{cite news |date=29 June 2009 |title=National Express turns down bid |work=BBC News |publisher=[[BBC|British Broadcasting Corporation]] |url=http://news.bbc.co.uk/2/hi/business/8123717.stm |access-date=29 June 2009}}</ref> On 3 September 2009, National Express' largest shareholder, Spain's Cosmen family with 18.5%, and [[CVC Capital Partners]] made a takeover offer of £765&nbsp;million for the company.<ref>{{cite web |url = http://www.nationalexpressgroup.com/media/corporatenews.aspx?newsyear=2009&newsitem=35 |title = Statement regarding possible offer |publisher = National Express |date = 3 September 2009}}</ref><ref>{{cite news |url = http://news.bbc.co.uk/2/hi/business/8236388.stm |title = National Express gets £765m bid |work = BBC News |date = 3 September 2009}}</ref> The [[Takeover Panel]] set a deadline of 11 September 2009 for all prospective bids.<ref name="NatExBidDeadline">{{cite news |last=Bowker |first=John |date=8 May 2009 |title=UPDATE 2-National Express suitors given Sept bid deadline |work=Reuters |url=https://www.reuters.com/article/nationalexpress-takeoverpanel-idUSL536437020090805 |access-date=10 September 2009}}</ref>

During September 2009, National Express agreed to allow the Cosmen/CVC consortium to undertake [[due diligence]].<ref>{{cite web |url = http://www.nationalexpressgroup.com/media/corporatenews.aspx?newsyear=2009&newsitem=33 |title = Statement regarding possible offer |publisher = National Express |date = 11 September 2009}}</ref> During the following month, the Cosmen/CVC consortium had reportedly reached an agreement to sell the UK bus and rail operations to rival transport operator [[Stagecoach Group]] if its offer was successful.<ref name="NatExSideBid">{{cite news |last1=Power |first1=Helen |last2=Costello |first2=Miles |date=7 September 2009 |title=National Express looks at options beyond CVC |work=The Times |location=London |url=http://business.timesonline.co.uk/tol/business/industry_sectors/transport/article6825455.ece |archive-url=https://web.archive.org/web/20110612184300/http://business.timesonline.co.uk/tol/business/industry_sectors/transport/article6825455.ece |url-status=dead |archive-date=12 June 2011 |access-date=10 September 2009}}</ref> The deadline for offers was subsequently extended to 16 October 2009.<ref>{{cite web |url = http://www.nationalexpressgroup.com/media/corporatenews.aspx?newsyear=2009&newsitem=32 |title = Statement regarding possible offer |publisher = National Express |date = 25 September 2009}}</ref>

On 16 October 2009, the Cosmen/CVC consortium announced that they had withdrawn their offer.<ref>{{cite web |url = http://www.nationalexpressgroup.com/media/corporatenews.aspx?newsyear=2009&newsitem=31 |title = Statement regarding possible offer |publisher = National Express |date = 16 October 2009}}</ref><ref>{{cite news |date=16 October 2009 |title=Bid failure hits National Express |work=BBC News Online |url=http://news.bbc.co.uk/2/hi/business/8310047.stm |access-date=25 October 2009}}</ref> That same day, Stagecoach submitted its own all-share bid to acquire National Express.<ref>{{cite web |url = http://www.nationalexpressgroup.com/media/corporatenews.aspx?newsyear=2009&newsitem=30 |title = Statement regarding press speculation |publisher = National Express |date = 19 October 2009}}</ref><ref>{{cite news |date=19 October 2009 |title=Rival renews National Express bid |work=BBC News Online |url=http://news.bbc.co.uk/2/hi/business/8313780.stm |access-date=25 October 2009}}</ref> This, too, did not proceed and, in November 2009, National Express announced it would raise the necessary capital through a share issue.<ref>{{cite web |url = http://www.nationalexpressgroup.com/media/corporatenews.aspx?newsyear=2009&newsitem=27 |title = Publication of Prospectus |publisher = National Express |date = 11 November 2009}}</ref>