Kier has confirmed it has held preliminary talks with consultant Mouchel regarding a possible takeover.
Construction company Kier has revealed it is discussing the possibility of taking over consultant firm Mouchel.
The deal, if it goes ahead, could boost Kier’s presence in the civil engineering sector.
In a statement to the Stock Exchange this morning [1 December], the company said: “Kier Group plc confirms that it has held preliminary discussions regarding a potential acquisition of Mouchel.
“There can be no certainty that an acquisition of the firm will be completed.
“A further announcement will be made if and when appropriate.”
A new takeover would build upon Kier’s £221m acquisition of May Gurney in July 2013. Kier turned over £3bn last year.
Mouchel was bailed out by banks and a new management team in 2012. Since then the firm has been on a recovery path with a turnover of £555m in the last full financial year.
According to financial blog Betaville purchasing the consultant would cost around £400m.
