They are icons of America which have been used as inspiration for lyrics by songwriters such as Paul Simon.
They are icons of America which have been used as inspiration for lyrics by songwriters such as Paul Simon.
But from now on Greyhound buses, with their trademark racing dog logos, will have their very own Scottish home.
Aberdeen-based FirstGroup announced yesterday that it has bought its American counterpart, Laidlaw, in a deal worth £1.9bn.
It will now operate the famous buses, which are used by 22 million passengers every year across more than 3100 destinations in America.
As part of the deal FirstGroup will also operate the distinctive yellow school buses which are used in 37 states and six Canadian provinces.
It will mean that FirstGroup is the biggest single school bus operator in the US after it combines its new operation with its First Student bus service which it bought in 1999.
The announcement of the takeover of Laidlaw, which is based in Illinois, led to shares in FirstGroup rising by 34p to 595p. A total of £200m of new shares will be issued to finance the deal.
Moir Lockhead, chief executive of FirstGroup, said: "FirstGroup's acquisition of Laidlaw will considerably enhance the group's existing activities in North America, which themselves have grown strongly since we first invested in the US in 1999.
"The improved earnings and strong cashflows arising from the acquisition will strengthen the group's position.
"FirstGroup aims to be the leader in delivering safe, reliable, innovative and sustainable transport services. We look forward to welcoming our new colleagues in North America to the group and working with them to integrate the businesses.
"Laidlaw is an established, well run company that shares our commitment to safety and delivering high quality services to the customers and the communities we serve."
Kevin Benson, president and chief executive officer of Laidlaw, added: "The combination of Laidlaw and FirstGroup will bring together two well-known brands and two well-respected companies that share a very strong focus on employee and customer satisfaction."
FirstGroup has gone from strength to strength since it began as FirstBus with the merger of Grampian Regional Transport and Badgerline Group in 1995. It has grown to become the UK's largest surface transport company, with a revenue of more than £3bn a year and 74,000 employees across the world.
It operates one in five local bus services, carrying 2.8 million passengers a day, and runs four rail franchises. On behalf of Transport for London it also operates the Croydon Tramlink network, which is used by 20 million passengers a year.
It already has three divisions in North America including First Student, which owns a fleet of more than 21,000 yellow school buses and carries over two million students every day.
It also runs transit contracting and management services First Transit and vehicle maintenance and ancillary services, First Services, from its headquarters in Cincinnati.
Laidlaw has suffered financial losses in recent years and its existing debt stands at £358.8m, a figure which has been included in the £1.9bn price to be paid by FirstGroup.
Reports said the takeover may face opposition from unions in the US, but Mr Lockhead said: "I don't see it being a problem. We deal with more than 20 unions in the US, Canada and UK and our relationships are excellent."
