Carillion to approach investors to revive Balfour deal -Times
Aug 4 (Reuters) - British construction company Carillion is planning to approach investors who also have stakes in Balfour Beatty in the hopes of reviving merger talks to buy the company, the Times reported on Monday.
Balfour in July walked away from a deal intended to create a possible 3 billion pound ($5 billion) infrastructure giant, after Carillion insisted the company terminate the planned sale of its U.S. engineering and design unit, Parsons, and keep it as part of the merged firm.
The move surprised Carillion, who said it believed in the strategic rationale of the deal.
Carillion now hopes to sway investors it shares with Balfour to persuade the company in returning to the negotiation table, the Times said, without naming its sources. thetim.es/1xYbwtZ)
The daily added that the overlap of institutions who held investments in the company was not a significant number.
Both Carillion and Balfour could not immediately be reached for comment outside regular business hours in the UK. ($1 = 0.5935 British Pounds) (Reporting by Esha Vaish in Bangalore; editing by Andrew Hay)