Balfour Beatty scraps merger plan with Carillion

August 2, 2014 5:02 am

UK-based infrastructure company, Balfour Beatty has terminated talks with Carillion over a possible £3bn merger, only days after the deal was revealed, Reuters has reported. Balfour said it backed away after Carillion insisted Balfour cancel the planned sale of its US engineering and design business, Parsons Brinckerhoff, and keep it within the merged company. Carillion said it was surprised by Balfour’s decision to quit merger talks and said it still believed in the strategic rationale of the deal.