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Alfred McAlpine agrees to Carillion takeover

The boards of Carillion and Alfred McAlpine have today reached agreement regarding a proposed offer by Carillion of £5.85 per share for Alfred McAlpine.

Carillion announced today that it has been granted access to Alfred McAlpine's books to conduct a due diligence process. If Carillion then decides to table its offer formally, McAlpine's board has agreed to give it unanimous recommendation.

A statement to the London Stock Exchange said that "Carillion and Alfred McAlpine believe that a combination of the two companies would present an excellent strategic fit, with the potential to create a company with a leading position in support services and integrated solutions".

It added that a "a further announcement will be made when appropriate".

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