Carillion agrees deal for McAlpine

The creation of a £4.7bn (€6.5bn) building giant moved a step closer today after Alfred McAlpine agreed to be bought by larger rival Carillion for £572m (€794m).

The tie-up will form one of the largest construction and support services firms in the UK.

Carillion has been pursuing McAlpine since August, but the cash and shares deal is less than the £599.6m (€833m) agreed in November due to recent stock market pressure.