McAlpine price

Following due diligence, Carillion has announced it will pay UK£ 572 million (€ 800 million) to acquire Alfred McAlpine, down from the previously announced UK£ 600 million (€ 839 million) price. The deal is being recommended by both companies' boards.

Following the acquisition, Carillion will be a clear no.2 in the UK construction market behind Balfour Beatty, with annual sales over UK£ 5 billion (€ 7 billion). Carillion says it expects to make annual savings of UK£ 30 million (€ 42 million) by 2009, and that the acquisition will boost its profits in that year.