Laing Offer

UK-based infrastructure investment company John Laing has recommended a UK£ 887 million (€ 1,32 billion) takeover offer from UK-based investment management company Henderson Group.

Under the offer, Henderson will pay UK£ 3,55 (€ 5,27) per ordinary John Laing Share, a +28,9% premium on the closing price on September 13, the day before the company announced it had received a takeover approach.

Although it is a name closely associated with construction, John Laing sold this part of the business in 2001 to O’Rourke for just £ 1 (€ 1,48).

John Laing sold its house building arm a year later, to the UK's Wimpey and Keir Group and since then has focussed on investing in Private Finance Initiative (PFI) infrastructure concessions.