Date: 11/04/2018

Bus and rail company FirstGroup has rejected a takeover approach from the American private equity group Apollo, the British transport operator has announced. After shares rose more than 7% during trading on Wednesday amid rumours of a takeover bid, the board of FirstGroup issued a statement confirming an initial proposal had been made by Apollo Management but had been unanimously rejected, dismissing it as opportunistic.

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FirstGroup rejects takeover bid from US equity group Apollo

Guardian

British transport firm dismisses approach from private equity group as opportunistic