Carillion PLC (CLLN.L) Key Developments |
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Carillion PLC and Balfour Beatty announces possible merger

Friday, 25 Jul 2014 02:00am EDT 

Carillion PLC and Balfour Beatty:Boards of Carillion and Balfour Beatty believe that merger of two groups has potential to create market leading services, investments, and construction business of considerable depth and scale.Work is underway to develop strategy and outline business plan for combined entity, underpinned by evaluation of achievable synergies, future financing arrangements and a number of other essential supporting workstreams.Evaluating merits of merger, two boards will, inter alia, wish to be satisfied that such merger would lead to very significant value creation for the benefit of both sets of shareholders.Two parties have agreed that Balfour Beatty's publicly announced sale process for Parsons Brinckerhoff, which is already underway, will proceed unaffected by this announcement, subject to achieving acceptable value and terms. 

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4.1 +1.74%
10:52am EDT