Kinetic lifts takeover offer for Go-Ahead by £22m

Australian bus group Kinetic and Spanish infrastructure specialist Globalvia have lifted their takeover offer for London-listed transport operator Go-Ahead by £22m.

The consortium upped its offer to £15.50 a share - comprising £14.50 in cash and a special dividend of £1 - from £15.00.

The sweetened offer values Go-Ahead at around £669m, up from £647m in June and the increase comes despite the fact that Go-Ahead has not received any competing offers.

Michael Sewards co-chief executive officer of Kinetic, and Javier Pérez Fortea, CEO of Globalvia, said: "This transaction will create a leading global, multi-modal, mass transit platform and unlock value for all stakeholders.

"Given our track record and experience we will provide long term capital and expertise to support the acceleration of Go-Ahead's strategy and transition to net zero."