Monday, Balfour Beatty (BBY.L, BAFBF.PK) announced that it completed its acquisition of U.S. building construction company Centex Construction (CTX) for $362 million cash. Balfour Beatty had announced the acquisition of Centex on February 1.
Balfour Beatty said that Centex has been renamed Balfour Beatty Construction LLC with immediate effect and the acquisition gives annual pro-forma U.S. revenues of approximately $3.5 billion. Balfour Beatty also expects the acquisition to enhance its earnings per share significantly in 2007.
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