Your browser is no longer supported

For the best possible experience using our website we recommend you upgrade to a newer version or another browser.

Your browser appears to have cookies disabled. For the best experience of this website, please enable cookies in your browser

We'll assume we have your consent to use cookies, for example so you won't need to log in each time you visit our site.
Learn more

Costain drops out of bidding for May Gurney

Contractor Costain has no plans to make another bid for contractor May Gurney, leaving contractor Kier free to buy the firm.

In a statement released today by Costain it said it “does not believe that it would be in the best interests of Costain shareholders for Costain to amend the terms of its proposed merger with May Gurney”.

The firm intends to let the proposed merger lapse at the earliest opportunity, which is expected on 29 May.

Kier yesterday launched a £221M offer for May Gurney just weeks after Costain proposed a £178M all share offer.

Have your say

You must sign in to make a comment

Please remember that the submission of any material is governed by our Terms and Conditions and by submitting material you confirm your agreement to these Terms and Conditions. Please note comments made online may also be published in the print edition of New Civil Engineer. Links may be included in your comments but HTML is not permitted.