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Last Updated: Friday, 2 December 2005, 16:53 GMT
Bid approach boosts Laing shares
Building
Project management firm John Laing's shares have risen sharply after it said it had received a takeover approach.

"The board confirms that it has received an approach...but emphasises that this approach is in very preliminary form," a statement said.

Shortly after the statement, Laing shares rose 16.3% to 341p, valuing the company at more than 815m ($1.4bn).

Laing owns and manages 48 private finance initiatives (PFIs) worth 335m and also owns Chiltern Railways.

In August, it said that road, hospital and school contracts helped lift half-year profits by 900,000 to 13.8m.




SEE ALSO:
Laing to build 1.35bn hospitals
12 Dec 03 |  Business
Laing builds way back to profit
02 Sep 02 |  Business


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