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Here’s Why FirstGroup Share Price Soared 18% Today

Nigel F

Shares of FirstGroup PLC (LON: FGP) erupted 18% today after a report in the Sunday Telegraph noted that a number of companies are interested in acquiring the firm’s U.S. operations.

FirstGroup, which operates bus and rail businesses in the UK and U.S., is looking to offload its U.S. operations, as previously reported in March. The Sunday Telegraph says that KKR, Brookfield, I Squared Capital, and Apollo Global Management – some of the largest private buyout funds – are all interested in acquiring the company’s U.S. arm.

The sale of a well-run business in the United States will generate much-needed cash for the company that suffered greatly amid the pandemic. Two months ago, FirstGroup posted a loss of £153 million for the previous financial year.

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FirstGroup share price soared 18% to print a fresh 2-month high at 46.98p.

Nigel F
Nigel F
Team Member

Nigels tiefes Verständnis der Finanzmärkte basiert auf über 10 Jahren Erfahrung. Nigel wurde bisher zweimal von der FCA (Financial Conduct Authority) autorisiert und hat in der letzten Zeit eine Finanz-Brokerage Firma besessen und verkauft. Er liefert hochaktuelle Analysen und Einsichten in die Finanzmärkte und in die allgemeine Wirtschafts- und Währungspolitik des Vereinigten Königreichs, der USA, Europas und Asiens.