Hanging in the balance? (photo: parsons Brinckerhoff)
Hanging in the balance?
31.07.2014, 14:02

Carillion Board "surprised" by Balfour decision to pull out of merger discussions

Industry News

In a statement to the London Stock Exchange, the Board of Carillion plc has expressed "surprise" at this morning's decision by Balfour Beatty plc to termination discussions relating to a possible merger of the two construction giants.

Despite press speculation that the prospects of any deal had been dealt a fatal blow by Balfour Beatty's refusal to reconsider the planned sale of US engineering and design business, Parsons Brinckerhoff, Carillion appears to have left the door open for future talks.

In today's statement, its Board re-affirmed the company's belief that there is a "powerful strategic rationale" for combining the two companies. More tellingly, it also confirmed it is to "give further consideration to its position" on the proposed merger - a stance that is entirely consistent with the announcement by the two companies at the time discussions were first announced, that the proposed Parsons Brinckerhoff disposal would have no impact.

A further statement from Carillion is expected shortly.

article Rating

vote data

leave Reply

 (photo: Confida FM)
Confida FM  - 02.06.2017, 17:12

New Beginnings for Ayrshire FM Business

The launch of Confida FM promises a bright new future for a wife and husband management team - and the facilities management industry in Scotland...and beyond.

 (photo: WPS Parking Systems BV)
WPS Parking Systems BV  - 15.03.2017, 14:04

Next-generation Parking Technology for Celtic Manor

WPS, one of the UK’s leading parking equipment manufacturers, has won a second contract to provide its ParkAdvance™ technology at the prestigious Celtic Manor Resort in Newport.

 (photo: Infomill Ltd)
Infomill Ltd  - 09.01.2017, 12:22

New Version of PartsArena Pro App

Heating engineers across the UK will enjoy a new, updated version of PartsArena Pro from January 2017 as creator, Infomill rolls out its latest improvements to the leading source of heating parts...

Crocus on site. (photo: Bodet Ltd.)
Bodet Ltd  - 22.09.2016, 20:30

Nursery and Garden Produce Staff Go Biometric

Leading nursery and online garden produce retailer Crocus have just installed the very latest Bodet interactive time and attendance system, to provide accurate and reliable staff attendance data...