LONDON Aug 19 British construction firm
Carillion on Tuesday raised for the third time its
merger proposal for engineering company Balfour Beatty,
with new terms that value its rival at 2.1 billion pounds ($3.5
Carillion said under the new offer, Balfour shareholders
would have 58 percent share of the combined firm. Balfour
shareholders would also get a cash dividend of 8.5 pence per
Balfour has rejected two takeover proposals by Carillion to
create a 3 billion pound giant that could compete for major
international contracts against the likes of Spain's Ferrorival.
Balfour declined to comment immediately.
($1 = 0.6015 British Pounds)
(Reporting by Li-mei Hoang; editing by Kate Holton)