Carillion raises Balfour Beatty merger offer to £2.1bn
19th Aug 2014 15:58
Carillion has made an improved offer of £2.1bn for construction rival Balfour Beatty after conversations with its major shareholders. Carillion's merger proposal, which would create the largest construction firm in the UK, is at a 36% premium to the average share price in the month before the deal
Read moreCarillion wins £90m contract for London development
18th Aug 2014 08:34
Construction group Carillion has won a £90m contract with HUB for the Hoola London project, a residential development in London's Royal Docks. The contract involves the design and construction of a 24-storey tower and one 23-storey tower, which will include 360 residential apartments and one comme
Read moreSunday newspaper round-up: Mark Carney, Carillion-Balfour, Tesco
17th Aug 2014 15:49
The UK economy is more than halfway to full recovery, the Governor of the Bank of England (BoE) told the Sunday Times. Mark Carney, in an interview marking the first anniversary of his forward guidance policy, told the paper economic expansion was proceeding and that momentum was more assured. "Wher
Read moreLondon midday: BHP leads markets higher after UK GDP upgrade
15th Aug 2014 12:00
- Annual UK GDP growth revised higher - Ukraine crisis in focus as Russian convoy nears border - BHP leads miners higher on demerger comments techMARK 2,763.55 +0.51% FTSE 100 6,726.15 +0.61% FTSE 250 15,757.92 +0.53% London stocks advanced on Friday after an upgrade to UK second-quarter growth es
Read moreBid battle may follow Carillion's Balfour Beatty approach, Brewin Dolphin says
15th Aug 2014 11:35
Investors in takeover target Balfour Beatty should sit tight in case a bid battle breaks out for the construction company, according to broker Brewin Dolphin. Brewin said Balfour's latest rejection of overtures from suitor Carillion on Friday appeared to eliminate the chances of a friendly merger b
Read moreLondon open: FTSE 100 rises for third day, BHP gains
15th Aug 2014 09:10
- Stocks set to close at highest level this month - Stimulus bets continue to drive gains - Putin comments help sentiment, but developments closely watched - BHP Billiton considering demerger of assets techMARK 2,756.41 +0.25% FTSE 100 6,717.11 +0.48% FTSE 250 15,732.60 +0.36% Stocks rose strongly
Read moreFriday tips round-up: Carillion, Game Group
15th Aug 2014 08:02
Carillion is trying to bite off more than it can chew. The construction outfit is aiming to what in effect would be the acquisition of its larger rival Balfour Beatty - its much larger rival. At £8.7bn Balfour Beatty's revenues are more than double those of its suitor. Pursuing mergers for cost savi
Read moreLondon pre-open: Stocks to rise early on
15th Aug 2014 07:58
UK stocks are expected to rise for a third straight day on Friday, though investors will likely keep a close on developments in Ukraine. City sources predict the FTSE 100 will open around 15 points higher than Thursday's close of 6,685.26. The second estimate of UK gross domestic product (GDP) fo
Read moreBalfour dismisses Carillion's latest takeover approach
15th Aug 2014 07:50
Construction group Balfour Beatty has again rebuffed Carillion's takeover proposal, branding it "opportunistic" and accusing Carillion of wanting to reduce Balfour's UK construction revenues by up to two thirds. Carillion on Thursday said it had talked to Balfour's shareholders about the potential
Read moreLondon close: Stocks slightly higher as geopolitical risk decreases
14th Aug 2014 17:22
- Putin says seeks to de-escalate tensions with Ukraine - Finnish Prime Minister says EU not preparing further sanctions against Russia - France tosses out 2014 deficit reduction target techMARK 2,749.57 +0.40% FTSE 100 6,685.26 +0.43% FTSE 250 15,675.56 +0.95% Stocks ended the session slightly hi
Read moreFTSE 250 movers: Carillion piles pressure on Balfour Beatty for merger
14th Aug 2014 17:04
Carillion led gains. On Thursday the company piled pressure on rival Balfour Beatty to resume merger talks by revealing that it had held meetings with several of Balfour's major shareholders. The construction group said it had told the investors that the merger could save at least £175m a year by th
Read moreLondon open: French and German GDP data disappoint
14th Aug 2014 09:30
- France tosses out 2014 deficit reduction target - TUI Travel leads gains after comments from TUI AG CEO - Glencore downgraded at Credit Suisse - Cable at 200-day moving average techMARK 2,742.00 +0.12% FTSE 100 6,660.86 +0.06% FTSE 250 15,549.52 +0.14% After an initial dip at the start of tradin
Read moreLondon pre-open: UK stocks to fall after weak GDP readings in France, Germany
14th Aug 2014 07:53
UK stocks are expected to open in negative territory on Thursday after some disappointing growth data from the Eurozone. City sources predict the FTSE 100 will open around eight points lower than Wednesday's close of 6,656.68. Michael Hewson, chief market analyst at CMC Markets UK, pointed out th
Read moreCarillion talks to Balfour investors to kick-start merger - UPDATE
14th Aug 2014 07:51
Construction group Carillion on Thursday piled pressure on rival Balfour Beatty to resume merger talks by revealing that it had held meetings with several of Balfour's major shareholders. Carillion said it had told the investors that the merger could save at least £175m a year by the end of 2016, e
Read moreCarillion may go hostile in Balfour Beatty bid, Brewin Dolphin says
11th Aug 2014 15:54
Builder Carillion may make a third attempt to buy rival Balfour Beatty after having its first two bids rejected in a spat over a subsidiary, broker Brewin Dolphin says. Balfour on Monday rejected a second bid from Carillion after the latter revised its first approach, in which it wanted Balfour to
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