Babcock International Group PLC Statement regarding media speculation (3935C)
17 June 2019 - 4:00PM
UK Regulatory
TIDMBAB
RNS Number : 3935C
Babcock International Group PLC
17 June 2019
17 June 2019
Babcock International Group PLC ("Babcock" or the "Company")
Statement regarding media speculation
Babcock, the Aerospace and Defence business, notes the media
speculation in respect of a previous approach for the Company.
Given that Babcock is currently undertaking an investor roadshow
following its full-year results and capital markets day, the
Company wishes to confirm that on 23 January 2019 it received an
unsolicited and highly preliminary proposal from Serco Group Plc
("Serco") regarding a potential all-share combination between the
two companies (the "Proposal") and confirms that no further
proposal has been received.
The Board of Babcock, together with its advisers, carefully
considered the Proposal and unanimously rejected it, having
concluded that a combination of the two companies had no strategic
merit and was not in the best interests of Babcock's shareholders,
customers or wider stakeholders.
ends
For further information please contact:
Babcock International Group PLC
Simon McGough Kate Hill
Director of Investor Relations Group Director of Communications
Tel: +44 (0)20 3823 5592 Tel: +44 (0)20 7355 5312
FTI Consulting
Nick Hasell / Alex Le May /
Andrew Lorenz
Tel: +44 (0)20 3727 1340
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
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