Plus   Neg

Serco Reportedly Makes Two Bids To Merge With Babcock

Serco (SRP.L) has made at least two attempts to merge with its bigger outsourcing rival Babcock, a deal that would create a 4 billion pounds defence giant, The Sunday Times reported.

According to the report, Serco made a preliminary approach late last year. Serco's Chairman Roy Gardner contacted his counterpart at Babcock, Mike Turner, who rejected the bid.

The report also said Serco returned with a more detailed proposal for an all-share merger in January.

For comments and feedback contact: editorial@rttnews.com

Business News

Follow RTT