Posted on 09/17/2009 12:45:35 PM PDT by Perdogg
Engineering and construction company Balfour Beatty PLC (BBY.LN) Thursday said it had agreed to buy U.S. professional services company Parsons Brinckerhoff for $626 million (GBP380 million), which it will fund with a rights issue to raise GBP353 million.
The deal is intended to deliver on the company's strategy to boost its infrastructure business, especially in the U.S., where the industry has been promised an injection of public money under President Barack Obama's manifesto.
"It makes us a strong player worldwide and, in particular, in the U.S., where we are just beginning to see government money come through and where we hope to participate in the building of transportation, highways and other infrastructure projects," Chief Executive Ian Tyler told Dow Jones Newswires.
(Excerpt) Read more at online.wsj.com ...
Try and say that 10 times without stuttering...
Balfour Beatty Buys Parsons Brinckerhoff
Balfour Beatty Buys Parsons Brinckerhoff
Balfour Buys Beatty Parsons Brinckerhoff
Balfour Brinks Buys Beattyhoff
Balfour Beattyhoff Buys Parsons Brinckerbuy
ah... whatever!
Balfour Beatty Buys Brinckerhoff, Big Bucks, Boosts Business
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