I personally would like NEG Group merge with First due to a number of similarities between the two groups, ie American School buses, UK trains. Plus First has a large number of bus operations in many major cities ie Bristol, Glasgow, Leeds, London, Manchester & Sheffield to name but a few...., these particular operations run high frequency, high margin routes.
I believe NEG Group is the only major transport group that could merge with another UK group without attracting too much interest from Monopolies and Mergers Commission ( No transport group can control anymore than 20 or 25% of the UK bus operating territory )