Megabus plans to buy rival's assets, expand by 50%
The express bus operator and its parent company Stagecoach Group PLC announced plans Friday to pay up to $160 million for parts of Coach America Inc., which filed for bankruptcy protection in January.
NEW YORK CITY — Chicago-based express bus operator Megabus plans to expand its network of U.S. intercity coach services by 50%, purchasing assets from a rival to push into Texas and California. Megabus and its parent company Stagecoach Group PLC announced plans Friday to pay up to $160 million for parts of Coach America Inc., which filed for bankruptcy protection in January, according to a Wall Street Journal report.
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