Kier agrees May Gurney takeover

Following an offer of £221m made by construction firm Kier for engineer May Gurney this morning, Kier has released a statement:

Kier is pleased to confirm that it has now received irrevocable undertakings from David and Wendy Sterry (acting as trustees of various trusts) and May Gurney Trustees Limited (acting as trustee of the May Gurney Group Limited Employee Share Ownership Trust) in relation to 7,943,178 ordinary shares in the capital of May Gurney representing approximately 11.31 per cent. of the issued ordinary share capital of May Gurney.

Together with the irrevocable undertaking from Aviva Investors Global Services Limited referred to in the 2.7 Announcement, Kier has received irrevocable undertakings in respect of an aggregate of 11,566,229 ordinary shares in the capital of May Gurney representing approximately 16.47 per cent. of the issued ordinary share capital of May Gurney.

(Release)