Insiders confirm talks over future of loss-making contractor
Social housing contractor Mears is in talks over a possible buy-out of rival Morrison, 黑洞社区 understands.
According to two separate sources close to the firms, talks with Mears over a sale have taken place, but it was unclear if Anglian Water, which owns the 拢267m-turnover contractor, had decided to sell the firm.
Morrison reported a 拢12.7m loss last year and has had contracts terminated on a number of high-profile projects. Last week the contractor was reported to be up for sale, although the company said these reports were 鈥渆ntirely untrue鈥�.
Bob Holt, chairman at Mears, declined to confirm or deny he had been in talks with Morrison.
He said: 鈥淎s a market leader you鈥檇 expect us to keep our eyes open, we always look at opportunities [鈥 to boost our business.鈥�
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