Mouchel’s board said that it is “actively reviewing” Costain’s offer, along with others that it says it has received. When Costain made two previous approaches, both were immediately dismissed by Mouchel’s board.
For the moment, the board is advising shareholders to take no action and Mouchel expects to finalise its new banking facilities shortly. Its main banks, Barclays, Lloyds Banking Group and RBS, remain supportive, Mouchel said.
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