Shares in UK bus operator surge on global takeover

LONDON, June 14 (AFP): UK transport giant Go-Ahead saw its share price surge Tuesday after agreeing to a takeover from a global consortium.
Shares in Go-Ahead, which operates London's famous red buses on behalf of the capital's transport authority, jumped 14 percent to £15.50 in late morning deals.
Go-Ahead revealed Monday that it would recommend a consortium takeover from Australian peer Kinetic and Spanish infrastructure investor Globalvia, who are both backed by a Canadian pension fund.
The cash bid, pitched at £15 per share including a special dividend, is worth £650 million ($790 million).