Construction firm ups takeover bid
Published 07/01/2011 | 08:00
CONSTRUCTION firm Costain stepped up its pursuit of struggling outsourcer Mouchel by unveiling a higher takeover proposal. Maidenhead-based Costain returned with a new all-share offer worth more than £15m after Mouchel's board rejected a December bid. Costain said its offer was 27.6% higher than its previous approach and would give Mouchel shareholders a 51.7% stake in the enlarged company.