Carillion seeks £30m dividend in takeover

3 January 2008
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03 January 2008

Wolverhampton-based Carillion expects to make annual savings of almost £30 million after completing a successful £572 million bid for Alfred McAlpine.

The cash and shares deal will create the UK's second largest construction and support services company - after Balfour Beatty - with revenues of £4.7 billion.

A Carillion spokeswoman said the deal is expected to generate "significant cost synergy" benefits. She added that the company would not identify specific areas for savings until the Alfred McAlpine board has formally approved the deal in late February.

"Alfred McAlpine's construction business will fit with Carillion's skills and resources and the businesses will continue to target higher-margin projects," said Carillion.

The company has yet to decide how the move will affect the structure of procurement. The head of procurement at Carillion's building division is supply chain director Adrian Davies, while his counterpart at Alfred McAlpine is procurement director Richard Hetherington.

SMjan2008

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