Competition authority says £572m deal can go ahead, allowing Alfred McAlpine to officially be part of Carillion on 12 February
The Office of Fair Trading (OFT) has given the green light to the £572m takeover of Alfred McAlpine by Carillion.
Alfred McAlpine is due to officially become part of Carillion on 12 February.
Carillion has said McAlpine’s shares will be delisted next Tuesday, followed by the issue of fresh Carillion shares.
The OFT clearance follows extraordinary general meetings at Carillion on 14 January and Alfred McAlpine on 21 January, which approved the deal.
Although no announcements have been made about the make-up of the board, City sources said the deal spelled the end for Ian Grice, chief executive of Alfred McAlpine. He has been blamed for weak profit figures.
One City source also speculated that Matt Swan, managing director of project services at Alfred McAlpine, would leave, after the appointment of David Hurcomb as Carillion’s head of building and private finance operations last month.