Last week the company fell 4.9%, reaching a year-low 19.5p. By close of play on Tuesday the price had not budged – surely a relief to Amey's shareholders given its ignominious fall from a 12-month high of 365.5p.
Press coverage of Amey has been scarce in recent weeks and Swiss corporate raider Tito Tettamanti's Sterling Investment Group seems to have capped its stake at about 15%. But with its juicy roads business still worth drooling over, is this merely the calm before the storm?
Two particularly inviting roads contracts were awarded to Carillion last week. On Thursday it won a £320m five-year maintenance job with partner WSP covering 750 km of motorways and trunk roads. Then Valentine's day was sealed with a kiss, or rather a £65m contract to turn the A74 dual carriageway between Carlisle and Guardsmill into a three-lane motorway. The company's shares were up 10.5% to 126.5p by last Friday.
Atkins must also have felt loved – after months of neglect, the City suddenly took a renewed interest and its share price rose 21% to 112.5p after it announced that it was being wooed by a potential buyer.
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