The Board of Balfour Beatty has considered the terms of the revised merger proposal from Carillion plc dated 19 August 2014 and has concluded again it fails to address the two key concerns that Balfour Beatty has consistently raised:
Accordingly, the Board has unanimously concluded that the proposal is not in the best interests of its shareholders and has decided to reject the proposal.
Therefore the Board will not be seeking an extension to the PUSU (Put Up or Shut Up) deadline of 5pm on 21 August 2014.
The Board also notes that the revised proposal represents only a small value change in the terms compared to the proposal from Carillion rejected on 11 August 2014.
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