WA to buy NBC firm?
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• Wallace Arnold could be the first successful purchaser of a National Bus Company subsidiary.
Its £2.8 million bid for the National Holidays business has been widely tipped as likely to succeed and has now been passed on to the Department of Transport by the NBC board with a recommendation.
Transport Secretary John Moore will make a final decision before any bid can be accepted. National Holidays was the first NBC company to be the subject of a management buyout bid, but it is thought that Wallace Arnold has been able to offer significantly more for the company than its management could raise.
As yet, no other bids have been received by the NBC board although several operating companies and at least one engineering company are on the verge of submitting management buy-out bids.