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Costain May Scrap Mouchel Purchase Amid Rival Talks, Times Says

Feb. 27 (Bloomberg) -- Costain Group Plc, the construction company that bid 180 million pounds ($290 million) for road-maintenance company Mouchel Group Plc, may scrap the proposal after competitor Interserve Plc made a higher offer, the Times reported, without saying where it got the information.

Interserve’s bid of as much as 197 million pounds is considered by Mouchel to be a “straightforward slam dunk,” the Times said, citing unnamed sources close to the company. Costain will tomorrow consult with shareholders before making a final decision on whether to end the offer, the newspaper said.

To contact the reporter on this story: Erik Larson in London at elarson4@bloomberg.net.

To contact the editor responsible for this story.

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