Management & Operations

Coach USA In Talks With Unnamed Suitor for $1.07 Billion Deal

Posted on June 10, 1999

According to an article in the Wall Street Journal, Coach USA Inc. said it is negotiations with an unidentified party to be acquired for $43 a share, or $1.07 billion. The target involves a large bus and taxi concern, with operations in 33 states. It reportedly has hired a financial adviser to help its board with the negotiations, which is characterized as “exclusive discussions.” While the company declined to identify its suitor, analysts believe the buyer could be a financial investor. In the past, market rumors suggested Canada’s Laidlaw, Inc. might be interested, but instead Laidlaw bought Greyhound Lines Inc., of Dallas earlier this year. Another possibility is a suitor from offshore, observers add. There are several British companies that operate a variety of transportation services, and one, National Express Group, has been very active in acquiring North American companies recently.

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