May Gurney shareholder overwhelmingly approve Kier’s £221m proposed takeover
May Gurney shareholders have overwhelmingly approved Kier’s proposed £221m takeover of the firm.
In an update to the City today, May Gurney said that shareholders holding 99.78% of May Gurney shares voted in favour of the firm’s takeover by Kier at a General Meeting today, while 253 shareholders voting in favour at a Court Meeting, and just 9 voting against.
Kier’s proposed takeover, announced in April, trumped Costain’s proposed £178m merger with the service firm.
Last week the Office for Fair Trading gave the takeover the green light.
May Gurney said it was expected that the last day for dealing in May Gurney shares would be 3 July, with the takeover to become effective on 5 July.