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News: Morrison Construction

Contractor Morrison Construction confirmed this week that it is in talks with a major industry player about a possible takeover. Morrison declined to name its would-be buyers. But it is rumoured in the City that Scandinavian contractor Skanska and UK firm Mowlem are interested in the acquisition. Skanska - a minority stockholder in Costain - is keen to become a major UK force and Mowlem has recently achieved dramatic growth. Morrison shares have risen from 230p to 360p since the end of July.

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