Seeking Alpha

Carillion drops takeover bid for Balfour Beatty

  • British construction and services company Carillion (OTC:CIOIF) says it is abandoning its pursuit of rival Balfour Beatty (OTC:BAFBF) after the company rejected its latest takeover approach.
  • Carillion made a final bid yesterday, offering to give Balfour Beatty shareholders control of the combined company and pay them a cash dividend in a deal that valued the company at £2.1B, or ~$3.5B.
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Comments (1)
  • bikerskibum
    , contributor
    Comments (67) | Send Message
     
    This news will probably cause the price to drop further, in which case I shall be looking to pick up some more shares. The yield is good and with little downside. LTBH for me.
    21 Aug 2014, 02:31 AM Reply Like
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