John Laing this week called a halt to talks with a mystery buyer that made a takeover approach two weeks ago.

The firm, which has equity stakes in numerous PFI projects, announced on Wednesday that it was no longer in talks with the buyer.

In a statement to the stock exchange, Laing said: 鈥淗aving investigated the approach more thoroughly, Laing does not believe that it is in the company鈥檚 or the shareholders鈥� interests to prolong the current discussions. Laing announces today that it is no longer in talks with respect to the approach.鈥�

However, sources at Laing said they had not ruled out a hostile approach from the unnamed firm or another company.

A source said: 鈥淟aing has had no other expressions of interest but obviously this approach has focused market attention on the value of the company. We wouldn鈥檛 expect a hostile approach from the party in question but you can鈥檛 really tell. There is nothing to stop it coming back.鈥�

Laing will issue a trading update on 17 January before its preliminary results, scheduled for 13 March.

It is being advised by investment bank Greenhill & Co.