Identity of mystery bidder is revealed as Carillion confirms that discussions are progressing.
Carillion has confirmed that it is the mystery firm interested in buying troubled contractor Mowlem. The firm said that discussions were progressing.
Mowlem confirmed that it had received an approach from a potential bidder on 31 October.
Anaylsts speculated at the weekend that Carillion was the mystery bidder. They said that Carillion was attracted by Mowlem’s portfolio. They speculated that a bid for Mowlem was likely to be about 220p a share, giving the company a value of about £312m.
Mowlem last month announced a pre-tax loss of £73m for the six months to 30 June. Losses were concentrated in the construction division. The company has a pension deficit of £106m.
