Balfour Beatty has rejected a second merger proposal from Carillion.

Today, the firm said "it wasn't a credible proposal" from Carillion and there was no strategic logic other than to enhance the earnings of the combined group.


In a statement Balfour Beatty said: "In light of these considerations on the revised proposal, the Board has lost confidence in the likely delivery of a successful transaction and has therefore concluded that the current proposal from Carillion is not in the best interests of Balfour Beatty shareholders."

The main concerns raised were the impact any deal would have had on Balfour Beatty's US design consultancy Parsons Brinckerhoff.

(CD/MH)