Kier has confirmed it has held preliminary talks with consultant Mouchel regarding a possible takeover.
The deal, if it goes ahead, could boost Kier’s presence in the civil engineering sector.
In a statement to the Stock Exchange this morning [1 December], the company said: “Kier Group plc confirms that it has held preliminary discussions regarding a potential acquisition of Mouchel.
“There can be no certainty that an acquisition of the firm will be completed.
“A further announcement will be made if and when appropriate.”
A new takeover would build upon Kier’s £221m acquisition of May Gurney in July 2013. Kier turned over £3bn last year.
Mouchel was bailed out by banks and a new management team in 2012. Since then the firm has been on a recovery path with a turnover of £555m in the last full financial year.
According to financial blog Betaville purchasing the consultant would cost around £400m.