LONDON, July 25 Shares in two of Britain's
biggest construction companies Balfour Beatty and
Carillion rallied on Friday, after they confirmed they
were in early talks on a possible 3 billion pound ($5.1 billion)
Balfour Beatty and Carillion said in a statement late on
Thursday that the merger had the potential to create a company
with market leading services, investment and a construction
business of considerable scale.
Shares in Balfour were up 10 percent at 255 pence by 0718
GMT, making it the top FTSE 250 riser. Carillion shares were
also up 12 percent at 380 pence.
The companies have until 21 August to announce a firm
intention to merge or state that a deal will not take place.
(Reporting by Li-mei Hoang; editing by Kate Holton)