Carillion Responds to Balfour Beatty Merger Withdrawal

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.