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Balfours shareholders approve PB takeover

Shareholders in contractor Balfour Beatty have approved the decision to raise £353M to buy US consultant Parsons Brinckerhoff by an overwhelming majority.

At a General Meeting, shareholders approved three resolutions - to buy Parsons Brinckerhoff, and raise the money to do so in a rights issue.

More than 96% of shareholders backed the plan.

Balfour Beatty can now proceed to buy the consultant, assuming 75% of PB shareholders back the deal.

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