Mobico Group (MCG): Offer for the company
This situation live
MCG Mobico Group
21 Oct 2026 · approach · 46p · +0% until the next step
The Mobico Independent Directors have carefully evaluated the Proposal together with its advisers and considers it to be at a value that it is minded to recommend to Mobico shareholders.
30 Oct 2026 · offer · 16.8% below the offer · +0% since
The Mobico Independent Directors, who have been so advised by BofA Securities as to the financial terms of the Acquisition, consider the terms of the Acquisition to be fair and reasonable.
Offer for the company
offer · 16.8% below the offer
Offer46p in cash
Premium+55% on 29.7p
Spread now+16.8% to the offer
Boardrecommends
As of 30 Oct 2026 ↗
Next: Court Meeting and General Meeting to approve the Scheme
Every step · 2
- 21 Oct 2026 approach · 46p – The Mobico Independent Directors have carefully evaluated the Proposal together with its advisers and considers it to be at a value that it is minded to... ↗
- 30 Oct 2026 offer · 16.8% below the offer – The Mobico Independent Directors, who have been so advised by BofA Securities as to the financial terms of the Acquisition, consider the terms of the... ↗
What is happening
Mobico Group: Offer for the company – offer · 16.8% below the offer. ['offer']
- In short
- AdL's non-binding 46p proposal was backed in principle by the independent directors on 21 Oct 2026. On 30 Oct 2026 it became a recommended firm cash offer from Bidco, valuing Mobico equity at about £308m. It will be implemented by a Court-sanctioned scheme of arrangement. Irrevocables cover 26.4% of shares, almost all from the non-voting CMC and Asterion holders.
- Announced
- 21 Oct 2026 · approach · 46p
- Latest
- 30 Oct 2026 · update
- Offer
- 46p cash per share; equity value about £308m, implied enterprise value about £2,323m
- Premium
- 55.1% to 29.7p close on 20 Oct 2026; 93.3% to 23.8p on 3 Aug 2026
- Bidder
- Leita Mobility Limited, owned by AdL (CMC Group 50.1%, Asterion Fund III 49.9%)
- Board view
- Independent directors consider terms fair and reasonable and intend to recommend unanimously; BofA Securities advised
- Irrevocables
- 161,923,237 shares (about 26.4%); only 1,191,255 (0.2%) are voting at the Court Meeting
- Structure
- Scheme of arrangement under Part 26 Companies Act 2006; takeover offer reserved as alternative
What comes next
Court Meeting and General Meeting to approve the Scheme.
Briefing
Mobico Group in 4 minutes
Mobico runs buses, coaches and trains in Spain, the UK, the US, Germany, North Africa and the Middle East. Its Spanish business, Alsa, keeps setting records, while UK coach, US contracts and German rail have cost it...
- Act 1Sales grew, profit did not
- Act 2Selling the school buses to cut debt
- Act 3Two bad contracts, one fixed
From the company's own announcements. Not investment advice.
Also at Mobico Group 4 open
Disposal of a part (break-up)UK Bus asset monetisation – Agreement in principle; completion expected November 2026
Turnaround plan with targetsGroup cost reduction programme – On track; target now £100m annualised savings
Balance-sheet stress / refinancingLeverage reduction options review – Advisers evaluating options; update in H2 2026
Legal & regulatoryWMATA contract dispute – WMATA terminated contract 12 May; litigation ongoing
Insider conviction1 director buying – £95k in 1 buy · closed
Mobico Group – company page →