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25Jun92 UK: BM GROUP DROPS THWAITES PURCHASE.

BM Group has pulled out of talks to buy dumper manufacturer Thwaites.The move follows the Government's decision to refer the deal to the Monopolies and Mergers Commission, and throws the future of Thwaites back into the melting pot.The Board of Trade claimed the takeover raised competition issues in the UK dumper market, but BM maintained it would not be against the public interest.BM said it was not prepared to devote considerable management time and money to an MMC presentation on such a small acquisition.Robert Fleming, the merchant banker handling the Thwaites sales, said BM was now definitely out of the picture.Industry sources suggest that Vanguard Engineering, the British manufacturer of lifting equipment, is the only other company to have put an offer on the table so far.Spanish dumper manufacturer Ausa is said to be still interested. CONSTRUCTION NEWS