The five executive directors of Birse are likely to leave when Balfour Beatty completes its 拢32m purchase of the contractor.

A source close to the deal said: 鈥淭he departures have not been determined, but that has always been the understanding between the two companies.鈥�

However, the source said immediate redundancies among Birse鈥檚 1200 staff were unlikely. The directors include chairman Peter Watson and managing director Martin Budden.

The takeover, the first in Balfour Beatty鈥檚 planned expansion drive, was announced at the start of last week. Negotiations are understood to have started six to seven weeks ago, but an offer document had been sent to shareholders by 30 June.

Many in the industry were surprised at the size of Balfour Beatty鈥檚 offer, owing to Birse鈥檚 historic liabilities. One financier is understood to have failed to find anyone to offer the market value of the company, which stood at about 拢26m before the Balfour deal.

In a trading statement last week, Balfour Beatty said its order book had grown to more than 拢8.5bn since the start of this year. It also spoke of its 鈥渄etermination to maintain its established growth momentum鈥�. Further acquisitions of regional builders and civil engineering groups are expected to follow.

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