CVC/Cosmen bid for National Express creeps closer to agreement

The board of National Express is to allow a private equity led consortium to do due diligence on its £765m bid for the UK-listed bus and rail company. The consortium of CVC Capital Partners and the Cosmen family — the company’s largest shareholders with 18.4% of the firm — is in discussions with management over allowing it four weeks of due diligence, and an agreement is hoped for by Friday (today).