Mobico Shares Spike on Takeover Bid from Autobuses de Leon

The stock climbed over 34% to reach 40 pence as investors reacted to the non-binding proposal. Mobico directors indicated that if the bid becomes firm, they would be prepared to recommend the offer to shareholders. The company, which operates the National Express brand in the U.K., continues to navigate a difficult period following a massive 793.8 million pound post-tax operating loss reported in early 2025.

While the current proposal offers a significant premium, the 46-pence valuation remains below the peaks seen before the company’s stock plummeted last year. Jefferies analyst Matthew Copeland noted that these terms would allow shareholders to exit at the higher end of the firm's recent trading range. Autobuses de Leon, a venture between CMC Group and Asterion Industrial Partners, has not yet issued a formal intention to bid, leaving the timeline for a final decision uncertain.