Company reaches agreement on 拢888.9m bid with Henderson Equity Partners

John Laing has confirmed that it has reached agreement on a 拢886.9m takeover bid from Henderson Equity Partners.

Henderson has received irrevocable undertakings and non-binding letters of intent in favour of the deal representing 23.7% of Laing鈥檚 ordinary share capital. Ordinary shares are valued at 355 pence each.

William Forrester, chairman of Laing, said: 鈥淐ombining Laing's operational skill base with Henderson Equity Partners' financial capacity should help to ensure Laing's continued development in the UK and underpin its expansion into overseas markets.鈥�

Paul Woodbury, Partner of Henderson Equity Partners, said: 鈥淲e are delighted that the Laing Directors have decided unanimously to recommend the proposals to Laing's shareholders. Henderson Equity Partners' considerable experience in global PFI/PPP markets combined with the specialist infrastructure funds that it manages place Laing in a stronger position to fund the significant capital investment required to realise its growth potential.鈥�

The parties said the deal could be concluded by the end of January.