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Future of British Business

UK Transport Firm FirstGroup Gets £1.2 Billion I Squared Bid

  • Bus and rail operator is considering unsolicited approach
  • Proposal follows its retreat from US to focus on home market
A First Great Western train, operated by FirstGroup

A First Great Western train, operated by FirstGroup

Photographer: Jason Alden/Bloomberg
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British bus and train operator FirstGroup Plc said it’s evaluating a takeover approach from I Squared Capital Advisors that could value the UK firm at as much as 1.2 billion pounds ($1.5 billion).

FirstGroup received the latest in a series of “unsolicited, conditional proposals” from I Squared late Wednesday and disclosed it in response to movements in its share price, according to a statement.