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

Cement Industry key Target of $20bn US Decarbonisation Plan

As part of President Biden’s Investing in America Agenda, the US Department of Energy is to invest $20bn on cleaning up US industries, including cement

Skanska Reshapes its Sustainability Team

Sweden-based sustainable construction company Skanska refreshes its sustainability team 'to better serve client and company goals'

Kingspan Group 'Cuts GHG Emissions by 65%'

Insulation specialist Kingspan Group's sustainability reports says 2023 business-wide ‘internal carbon price’ explains cuts in Scopes 1 & 2 emissions

Dubai Extends Metro as Millions Switch to Public Transport

Construction Projects

New construction contracts released for HS2 UK rail project

Construction Projects

How to lead a successful EDI migration process

Construction Projects