Deals
Carillion Raises Bid to Value Balfour Beatty at $3.5B
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Carillion Plc made a new merger bid for Balfour Beatty Plc, valuing the U.K.’s biggest builder at 2.1 billion pounds ($3.5 billion).
The offer would give Balfour Beatty investors 58.3 percent of the new company and a cash dividend of 8.5 pence per Balfour Beatty share, Carillion said in a statement. That represents a premium of 36 percent to weighted average share price before the talks were announced. A previous offer would have given Balfour shareholders a 56.5 percent stake.