Carillion closes in on Alfred McAlpine.
Investors Chronicle - magazine and web content, November, 2007
Carillion gets the green light for improved offer after key McAlpine shareholders accept Jonas Crosland
It's third time lucky for Carillion in its attempt to buy Alfred McAlpine, after the two companies agreed on an indicative offer worth 585p a share, which values McAlpine at GBP600m. The deal comprises a cash offering of 25 per cent, with the balance made up of new Carillion shares. Subject to the successful completion of due diligence, the McAlpine board will give the offer its full recommendation.
The latest development should bring an end to a long running and relatively complex saga. Bids worth 560p and then 570p a share from Carillion were roundly rejected by McAlpine, but then it was revealed that Schroder Investment Management and New Star...
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