National Express is in talks about a Stagecoach takeover.
The news, first reported by Bloomberg, was confirmed today by National Express.
National Express is valued around £1.4bn, whilst Stagecoach is valued around £375m. Shares in Stagecoach has grown 90% over the past year.
Stagecoach is based in Scotland and runs over 8,000 buses and coaches across the UK. National Express has over 28,000 buses and coaches that operate in the UK, Spain and US.
José Ignacio Garat, the National Express chief executive, would remain boss of the combined group.