		<div class="wpcnt">
			<div class="wpa">
				<span class="wpa-about">Advertisements</span>
				<div class="u top_amp">
							<amp-ad width="300" height="265"
		 type="pubmine"
		 data-siteid="111265417"
		 data-section="2">
		</amp-ad>
				</div>
			</div>
		</div><p><a href="http://londonglossy.com/wp-content/uploads/2011/01/costain-steps-up-mouchel-interest.jpg"><img class="alignnone size-full" title="Construction firm Costain has upped its takeover offer for outsourcer Mouchel" src="http://londonglossy.com/wp-content/uploads/2011/01/min-costain-steps-up-mouchel-interest.jpg" alt="Construction firm Costain has upped its takeover offer for outsourcer Mouchel"/></a></p>
<p>Construction firm Costain has stepped up its pursuit of struggling outsourcer Mouchel by unveiling a higher takeover proposal.</p>
<p>Maidenhead-based Costain returned with a new all-share offer worth more than £150 million after Mouchel&#8217;s board rejected a previous approach in December.</p>
<p>Costain said its offer, which is subject to a number of pre-conditions, was 27.6% higher than its previous approach and would give Mouchel shareholders a 51.7% stake in the enlarged company should a deal go ahead.</p>
<p>Chairman David Allvey said there was compelling strategic rationale for combining the two firms and creating a group with the critical mass to meet demand from customers for larger and longer-term bundled services. He called for a meeting with the board of Mouchel as soon as possible.</p>
<p>The interest comes after Mouchel&#8217;s shares hit an all-time low of 56.5p in early December &#8211; from a year high of 268p &#8211; amid concerns over Government spending cuts and as it holds talks over the refinancing of its debt pile.</p>
<p>Mouchel&#8217;s clients include Government agencies and councils across the UK, including Milton Keynes, Middlesbrough and Bath &#038; North East Somerset.</p>
<p>Costain, which is focused on the infrastructure, environment and energy sectors, said a combination with Mouchel would create a company with a combined order book of more than £4 billion.</p>
			<div style="padding-bottom:15px;" class="wordads-tag" data-slot-type="belowpost">
				<div id="atatags-dynamic-belowpost-69e3300476e96">
					<script type="text/javascript">
						window.getAdSnippetCallback = function () {
							if ( false === ( window.isWatlV1 ?? false ) ) {
								// Use Aditude scripts.
								window.tudeMappings = window.tudeMappings || [];
								window.tudeMappings.push( {
									divId: 'atatags-dynamic-belowpost-69e3300476e96',
									format: 'belowpost',
								} );
							}
						}

						if ( document.readyState === 'loading' ) {
							document.addEventListener( 'DOMContentLoaded', window.getAdSnippetCallback );
						} else {
							window.getAdSnippetCallback();
						}
					</script>
				</div>
			</div>
Discover more from London Glossy Post
Subscribe to get the latest posts sent to your email.
