Third time not lucky: Balfour Beatty shares open 5.7% lower as it rejects another Carillion merger offer August 20, 2014 Balfour Beatty has rejected a third merger offer from Carillion, as they remain unwilling to end the planned sale of US design consultancy Parsons Brinkerhoff. Construction services group Carillion yesterday offered a sweetened merger proposal to Balfour in the hope of finally coming to an agreement that has failed to materialise since Carillion first approached [...]
Balfour Beatty share price jumps as Carillion raises merger bid August 19, 2014 Carillion, the construction services group, yesterday sweetened its takeover offer for Balfour Beatty in the hope it would break through the wall of resistance from its rival and convince an intransigent chairman and his team of advisers to return to the negotiating table. The raised bid, which values Balfour Beatty at £2.1bn, comes as the [...]
Huge demerger as BHP Billiton spins off assets to create new mining company August 19, 2014 Global mining giant BHP Billiton yesterday confirmed it was spinning off a range of assets across five countries to create a new mining company. The major demerger will see the as-yet-unnamed NewCo take on aluminium, coal, manganese, nickel and silver assets, and will have current BHP Billiton chief financial officer Graham Kerr as its [...]
BHP Billiton demerger share price drop: Worth digging past the disappointment – Bottom Line August 19, 2014 Plans for a leaner, meaner and more profitable mining giant drew little love from investors yesterday. It was easy to see why – but that doesn’t mean the prospects for a slimmed-down BHP Billiton aren’t shiny. The air of disappointment that saw BHP’s shares fall nearly five per cent over the day was down largely [...]
Balfour Beatty share price leaps as Carillion raises merger offer August 19, 2014 Carillion has upped its offer for Balfour Beatty for a third time as the deadline looms for a potential mega-merger between the two construction firms. The renewed offer values Balfour Beatty at more than £2bn and offers shareholders a 58.27 per cent share in the new company, up on the previous offer of 56.5 per [...]
Balfour Beatty looks to sell US arm Parsons Brinckerhoff in latest Carillion merger battle twist August 18, 2014 The long battle over a possible £3bn mega-merger between Carillion and Balfour Beatty took another turn last night, as Balfour was believed to be in advanced negotiations to sell its US business Parsons Brinckerhoff (PB) to a Canadian bidder, adding to the pressure facing Carillion as it has been considering its options for another offer [...]
How cyber attacks could derail the fragile M&A boom August 18, 2014 IT WAS one of the darkest days for mergers and acquisitions (M&A) in Wall Street history. The collapse of five mega-deals earlier this month, for reasons ranging from a lack of board engagement to excessive regulatory interference, demonstrates the fragility of the current M&A boom. Already this year, 339 deals worth $428bn (£256bn) have collapsed [...]
Clock ticking as Carillion mulls Balfour Beatty options to sweeten £3bn mega-merger deal August 17, 2014 The saga of a potential £3bn mega-merger between construction giants Carillion and Balfour Beatty has entered its endgame, with Carillion considering its options to entice its rival as the clock ticks down on the chances of a deal. Carillion has until this Thursday to make another approach to its reluctant rival, after which it will [...]
Balfour Beatty rejects Carillion merger for the second time August 15, 2014 Infrastructure firm Balfour Beatty has reaffirmed its rejection of a merger with Carillion. Balfour's board said it had considered the potential for synergies, risk of revenue and cost leakage and the impact of terminating the Parsons Brinckerhoff sales process. However, it came to the conclusion that an independent strategy, all the benefits of which will [...]
Saga dips toe into M&A waters with Destinology deal August 13, 2014 Saga, the over-50s specialist, yesterday made its first acquisition since floating earlier this year, buying a 75 per cent stake in online travel firm Destinology . The deal, believed to be worth £20m, comes in the wake of Saga’s listing on the London stock market in May. The purchase will be funded from existing [...]