Shares in Mobico Group PLC (LSE:MCG) hit the central reservation, tumbling 42%, after it agreed a deal to sell its North America School Bus business in a deal that ascribes an enterprise value of up to $608 million.
CEO Ignacio Garat called the deal a 'significant milestone'. The analysts were far less effusive. Take Peel Hunt. It reckons investors should vote against the sale to "avoid a significant permanent destruction of shareholder value".
The broker said the price being paid is way too low, adding: "All of Mobico's businesses could be operated far better than they are, in our view, but we believe this will only be delivered with management change."
Panmure Liberum, meanwhile, was a little more diplomatic with its commentary, saying the "reduction in leverage is likely to be much less than hoped for".
The stock sank 24.79p to 34.31p.