(MENAFN) British infrastructure company Balfour Beatty has rejected a second merger proposal from rival Carillion, saying it would pose significant risks to its business, The Peninsula Qatar reported.
The loss-making Balfour Beatty said there was no strategic logic to a combination other than to enhance the combined group's earnings, and the risks were significant.
"The whole idea of putting Balfour and Carillion together makes sense because there should be synergies that could come out of the deal," portfolio manager at AGF International Advisors said.
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