16th Oct 2007 15:19
Carillion PLC16 October 2007 Not for release, publication or distribution, in whole or in part, in or into orfrom any jurisdiction where to do so would constitute a violation of therelevant laws of such jurisdiction 16 October 2007 For Immediate Release Statement by Carillion plc ("Carillion") regarding a Possible Offer for AlfredMcAlpine plc ("Alfred McAlpine") In response to the announcement by Alfred McAlpine, Carillion confirms that ithas approached the Board of Alfred McAlpine with a view to entering intodiscussions about a possible offer for Alfred McAlpine. Carillion believes that Alfred McAlpine would represent an attractiveacquisition and that a combination of the two companies would present anexcellent strategic fit, creating a leading position in support services andintegrated solutions and generating an opportunity to extract significant costsavings. Carillion notes that the Board of Alfred McAlpine has today rejected thisapproach. Carillion will continue to evaluate all strategic opportunities,including Alfred McAlpine, based on a disciplined and value-driven approach toearnings, indebtedness and returns. There can be no certainty that any furtherproposal will be made to the board of Alfred McAlpine or that any offer ortransaction will result or as to the terms on which any offer or transactionmight be made. A further announcement will be made if appropriate. Enquiries: Carillion plc John Denning +44 (0) 1902 316 426 Dealing Disclosure Requirements Under the provisions of Rule 8.3 of the Takeover Code (the "Code"), if anyperson is, or becomes, "interested" (directly or indirectly) in 1% or more ofany class of "relevant securities" of Carillion or Alfred McAlpine, all"dealings" in any "relevant securities" of that company (including by means ofan option in respect of, or a derivative referenced to, any such "relevantsecurities") must be publicly disclosed by no later than 3.30 pm (London time)on the London business day following the date of the relevant transaction. Thisrequirement will continue until the date on which the offer becomes, or isdeclared, unconditional as to acceptances, lapses or is otherwise withdrawn oron which the "offer period" otherwise ends. If two or more persons act togetherpursuant to an agreement or understanding, whether formal or informal, toacquire an "interest" in "relevant securities" of Carillion or Alfred McAlpine,they will be deemed to be a single person for the purpose of Rule 8.3. Under the provisions of Rule 8.1 of the Code, all "dealings" in "relevantsecurities" of Carillion or Alfred McAlpine by Carillion or Alfred McAlpine, orby any of their respective "associates", must be disclosed by no later than12.00 noon (London time) on the London business day following the date of therelevant transaction. A disclosure table, giving details of the companies in whose "relevantsecurities" "dealings" should be disclosed, and the number of such securities inissue, can be found on the Takeover Panel's website atwww.thetakeoverpanel.org.uk. "Interests in securities" arise, in summary, when a person has long economicexposure, whether conditional or absolute, to changes in the price ofsecurities. In particular, a person will be treated as having an "interest" byvirtue of the ownership or control of securities, or by virtue of any option inrespect of, or derivative referenced to, securities. Terms in quotation marks are defined in the Code, which can also be found on thePanel's website. If you are in any doubt as to whether or not you are requiredto disclose a "dealing" under Rule 8, you should consult the Panel. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
Carillion Plc