Kier confirms Mouchel takeover bid

KierKier Group has made a statement confirming it has held preliminary discussions regarding the possible acquisition of infrastructure builder Mouchel.

Sources mention that the going price for Mouchel could be £400 million, although others say it could be as high as high as £500m.

The firm was forced into administration in 2012.

In September, Kier announced a 59 per cent increase in underlying operating profits for the 12 months to June 2014 while revenue was up 51 per cent to £3 billion, following nearly a full year inclusion of Kier’s acquisition of May Gurney.

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