New Suitor for National Express

National Express (NX) has received a fresh takeover approach from an unnamed suitor. The news comes the day after rival FirstGroup said that it had scrapped plans to make a takeover bid for NX. FirstGroup had said that it would now be inappropriate to consider a formal takeover of NX, because of uncertainties surrounding the business. This follows the latter's decision to cease funding it's East Coast franchise and the possible implications of this move on it's East Anglian and C2C franchises.