Kier's £265m Mouchel takeover breaks mould

摘要

Kier's £265m takeover of Mouchel breaks the mould by combining heavyweight contracting and consulting expertise, the bosses of the two firms have said. Contracting giant Kier this week agreed a deal to pay £265m for consultant Mouchel, creating a combined company with a £9.3bn order book and a leading market share in the UK highways sector. Shares in Kier Group dropped in early trading on Tuesday following the announcement, but finished the day up 5p at £16.30. Tuesday's announcement came almost exactly two years after Kier agreed to pay £221m for May Gurney. However, within a year of that deal, problem waste-collection contracts with Bristol City council and Cheshire West and Chester council caused Kier to knock £45m off the "fair value" of its acquisition.