Carillion Responds to Balfour Beatty Merger Withdrawal

By Admin
Carillion has hit back at Balfour Beatty after the latter blamed its desire to retain Parsons Brinckhoffer for the collapse of merger talks, with the bo...

Carillion has hit back at Balfour Beatty after the latter blamed its desire to retain Parsons Brinckhoffer for the collapse of merger talks, with the board describing itself as “surprised” by Balfour’s reaction.

The Board of Carillion confirmed that for the combination to satisfy Carillion’s requirements, it would be “essential to retain the stability and dependability of Parsons Brinckerhoff’s earnings.”

It insisted a merger makes sense in that it has the ability to provide “very significant shareholder value.”

Carillion said it would give further consideration to the matter, and that it would make a further announcement in due course. It did not rule out a further offer.

The deal is required to be completed by August 21 at 5pm.

Carillion confirmed that its announcement was not being made with the consent of Balfour Beatty.

Share

Featured Articles

Open ECX is transforming construction with digital solutions

Open ECX offers innovative, cloud-based e-trading solutions for the construction sector and its associated supply chain

Bechtel and CWP Global spot Africa green hydrogen potential

Partnership involving CWP Global and Bechtel to provide planning solutions for integrated configurations involving green hydrogen facilities

'Better with Bellway' sustainability strategy launched

Bellway's new sustainability strategy coincides with half-year results in which the UK homebuilder's operating profit rose 11.6% to £332.2mn

Construction of utility scale solar farms to accelerate

Construction Projects

China's longest reconstructed bridge to open early April

Construction Projects

Construction firms must focus on water neutrality

EPC