Every week there is a fresh rumour doing the rounds in the Square Mile, each linking a different housebuilder to the business. Despite Laing’s continued protestations that it is not for sale, it’s common knowledge in the City that its parent company will gladly sell if the price – about £300m – is right.
The latest firm to be linked to the business is Kier. And this story seems to be better founded than earlier rumours. For a start, Kier has done a deal with Laing for its property arm, so the two negotiating teams will know each other well.
And now investment bank INGBarings, which handled the sale of Laing’s construction arm to O’Rourke last September, is advising Laing on its “strategic future” – which usually means a sale is imminent.
“Everyone has had a kick at Laing’s tyres,” said one stock watcher, “but Kier’s interest is stronger than that. It is having a very good look.”
A variation on the theme is that Laing Homes could be split into chunks for a few rivals to snap up. Westbury is reportedly interested in the South-east operation.
Laing’s share price has slowly bounced back from 100p, when it sold its construction arm, to 183p.
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