Thousands of British construction jobs are at risk in the £3 billion merger that Carillion is trying to force on its ailing rival Balfour Beatty.
After another dramatic day in the City during which Carillion revealed it has been conducting a roadshow to get Balfour shareholders to revolt against their management, Balfour will today aim to shoot down Carillion’s claims that it can produce annual savings of £175 million in a merged company which it is further claimed would add £1.5 billion to its market value.
The Balfour counterattack will challenge the costings of Carillion claims and raise the spectre that Carillion’s business plan could result in it closing or selling off up to two thirds of Balfour’s UK construction business.
That business is Britain’s