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Farewell to Laing again

AGENDA - COMMENT

THIS week's agreed takeover of John Laing shows how fast things can change in the modern world of construction.

Back in 2001 Laing was one of the most famous names in the business before its building arm, after falling on hard times, was bought for £1 by Ray O'Rourke.

The renamed John Laing turned itself into a PFI /PPP investment specialist and its success has attracted an £887 million takeover bid by fund manager Henderson.

It seems the City fund managers could learn a thing or two from contractors about how to drive a hard bargain.