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Laidlaw International Inc. recently received Surface Transportation Board approval for its proposed merger with FirstGroup plc, which provides freight- and passenger-rail, and bus services in the United Kingdom.
In February, Laidlaw — a public transit services provider and holding company for North American school and inter-city bus transport firms — reached an agreement with Firstgroup under which the U.K. company will acquire all of Laidlaw’s outstanding stock for $35.25 per share.
The transaction still is subject to certain closing conditions and further regulatory approval in the United States and Canada.
FirstGroup operates freight railroad GB Railfreight; high-speed and commuter railroad First Great Western; passenger railroads First ScotRail and First Capital Connect; and intercity passenger railroads TransPennine Express and Hull Trains. The company also operates North American divisions that provide yellow school bus, transit contracting and management, and vehicle maintenance and ancillary services.
5/24/2007
Rail News: Passenger Rail
U.K. railroad operator FirstGroup to acquire Laidlaw
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Laidlaw International Inc. recently received Surface Transportation Board approval for its proposed merger with FirstGroup plc, which provides freight- and passenger-rail, and bus services in the United Kingdom.
In February, Laidlaw — a public transit services provider and holding company for North American school and inter-city bus transport firms — reached an agreement with Firstgroup under which the U.K. company will acquire all of Laidlaw’s outstanding stock for $35.25 per share.
The transaction still is subject to certain closing conditions and further regulatory approval in the United States and Canada.
FirstGroup operates freight railroad GB Railfreight; high-speed and commuter railroad First Great Western; passenger railroads First ScotRail and First Capital Connect; and intercity passenger railroads TransPennine Express and Hull Trains. The company also operates North American divisions that provide yellow school bus, transit contracting and management, and vehicle maintenance and ancillary services.
