Balfour Beatty Rejects Carillion’s Third Offer

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Aug. 20 (Bloomberg) –- Bloomberg’s Caroline Hyde reports on Balfour Beatty rejecting Carillion’s revised bid saying the latest offer again fails to address two key concerns for the company. She speaks to Mark Barton and Manus Cranny on “Countdown.” (Source: Bloomberg)

Third time eight so lucky -- is not so lucky.

Number one, the considerable risks with the business plan.

They say they are winding down construction.

The u.k. market is about to take off.

They are saying that is a key problem.

The u.k. construction business.

Secondly, and we know this has been a thorn in their side, parsons brinkerhoff.

The u.s. consultancy unit that they want to sell for the tune of 700 million pounds.

As part of the offers, they say, please don't. we want to keep hold of this.

They are saying, we are just about to have a successful conclusion.

Stick with us.

We unanimously conclude this is not in the best interest of shareholders and we will not be looking to extend that put up or shut up deadline.

You are not getting any more time.

The next question, hostile takers in the -- takeovers are not something we see.

Where does this leave them?

Does the -- it leave them vulnerable?

Where does it leave karelian -- carrolion?

They go to the shareholders?

We want peace two jules -- we want these two jewels in the crown.

This is what they have promised.

They can -- they promised special dividends to the shareholder base.

Being promised 200 million pounds if they sell the u.s. asset.

How well -- will carillion make up this asset?

The sweetened deal is not that much sweeter.

We don't feel it is that much up on the previous two offers.

Just a reminder why we care so much about these two bellwethers.

They have done incredible things.

They are centuries old.

If we look at what they have done, you get off the tube.

They rebuilt bank station during the war.

The channel, all -- channel tunnel.

Karelian -- caroillion had a stake in channel tunnel.

Buckingham callis -- palace, the queen.

These are companies that have achieved a lot.

No chief executive at the moment.

A string of half it warnings ever since they did not manage to navigate the financial crisis.

Yesterday, bhp billiton

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