PB poised to join forces with Balfour
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Friday, 23 October, 2009 - 08:03
Parsons Brinckerhoff, an employee-owned, consulting and planning firm, has recommended shareholders approve an acquisition by London-based infrastructure firm Balfour Beatty for $US626 million.
PB Australia-Pacific managing director Jim Mantle said if the acquisition goes ahead, PB will operate as an independent, but as a wholly-owned subsidiary of Balfour Beatty.
"In the Australia-Pacific context, it is not Balfour Beatty's plan to be a general contractor in the region; however, we gain a strategic partner that complements our services," Dr Mantle said.
PB's shareholders' meeting took place on October 21.
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