Balfour Beatty rejects Carillion’s offer as profit dives August 11, 2014 Balfour Beatty yesterday posted a 53 per cent slump in underlying half-year profit to £22m, putting the infrastructure firm under pressure to prove that it can go it alone after rejecting a second takeover bid from rival Carillion. The flailing FTSE 250 company, which has issued four profit warnings in two years and is currently [...]
Balfour Beatty rejects Carillion merger as profits drop 53 per cent August 11, 2014 Balfour Beatty has said it had "lost confidence" in merger talks with Carillion, as the British infrastructure company separately announced today that half-year profits have dropped by over 50 per cent compared to the same period last year. The company is currently in an offer period which extends to 21 August 2014, and had [...]
Carillion and Balfour revive merger talks August 10, 2014 CARILLION and Balfour Beatty have resumed talks over a possible £3bn merger, which would create one of the UK’s largest construction firms. Negotiations broke down at the end of last month due to a dispute over Balfour’s planned sale of Parsons Brinckerhoff, a US engineering design business it bought in 2009. Carillion said it would [...]
Time for Balfour Beatty and Carillion bosses to rebuild bridges – Bottom Line August 10, 2014 Playing hard to get has always been an obvious tactic for any bunch of executives who find their firm targeted by a takeover-hungry rival. Yet knocking back your suitors has become especially modish this year, with the boards of Astrazeneca and Time Warner notably resolute in their determination to go it alone. To some extent [...]
Balfour Beatty and Carillion resume £3bn merger talks as clock ticks on deal August 10, 2014 Balfour Beatty and Carillion have resumed talks over a potential £3bn merger between the two construction companies, less than two weeks after they were called off because of disagreements between the firms. The Sunday Times reports the construction firms resumed contact last week and the Balfour Beatty board met on Friday to discuss the deal [...]
Balfour Beatty calls off takeover talks but Carillion could go hostile July 31, 2014 Takeover talks between British construction company Balfour Beatty and infrastructure giant Carillion ended abruptly yesterday, just days after the £3bn bid began. Balfour backed out of the deal after Carillion demanded the company call a halt to the sale of Parsons Brinckerhoff (PB), a US engineering and design business it bought in 2009. The proposed [...]
Balfour Beatty and Carillion share prices tumble as £3bn merger talks called off July 31, 2014 Construction firm Balfour Beatty saw its share price tumble six per cent this morning after revealing its £3bn merger talks with Carillion were over. Carillion also took a hit as shares fell five per cent. Balfour Beatty said discussions over a potential merger, news of which emerged last week, had been terminated over a disagreement [...]
Carillion bosses set to snap up top jobs after Balfour Beatty merger July 27, 2014 Carillion chairman Philip Green is expected to head up the £3bn construction giant that will be created from the company’s planned merger with flailing rival Balfour Beatty. Usually after a merger the top roles are divided, but Carillion’s chief executive Richard Howson is also set to take up the same role at the combined company, [...]
Balfour Beatty and Carillion begin £3bn merger talks July 24, 2014 Construction groups Balfour Beatty and Carillion are in talks to merge, a deal which could create a colossus with a market capitalisation of more than £3bn. Carillion confirmed yesterday that the negotiations were underway, and that it had approached its slightly-larger but weakened competitor. Balfour Beatty has been in a bleak position in recent months [...]
Liverpool sign up Carillion for Anfield revamp July 2, 2014 SUPPORT services and construction firm Carillion yesterday said it had been named preferred bidder for the £75m expansion of Liverpool’s Anfield stadium, ahead of the club’s return to the Champions League. The proposals would increase the capacity of a new main stand by around 8,300, taking the overall capacity of the stadium to around 54,000. [...]