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Kier moves for May Gurney

Kier has mooted a move for May Gurney in the face of the support services company’s plan to merge with Costain.

While not making an official offer for the firm, Kier said today that it believes a tie-up with May Gurney would create “significant value” for shareholders, adding that it has been looking at the company for some time.

A statement reported by H&V News’ sister title Construction News said: “Kier Group plc notes the announcement regarding the proposed merger of May Gurney Integrated Services plc with Costain Group plc.

“Kier holds May Gurney in high regard and views it as a good quality support services business with a range of services which complements Kier’s existing offering.

“Kier believes that a combination of Kier and May Gurney would create significant value for shareholders, establishing a market-leading and well-balanced business. 

“The enlarged group would offer an unrivalled range of services to local authorities as well as providing Kier with greater access to the regulated sector.

“To that end, Kier has made previous attempts to discuss a potential combination with May Gurney and has been monitoring the business’ recent performance. In light of the announcement, Kier is considering its options.

“A further announcement will be made if and when appropriate. There can be no certainty that an offer will be made.”

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