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Office of Fair Trading extends Kier May Gurney review

The Office of Fair Trading has extended its review of Kier’s proposed acquisition of May Gurney by 10 days.

Kier announced on 24 April that they had reached agreement in principle on an offer of £221m for the support services firm, trumping the previous £178m offer from Costain.

The Office of Fair Trading said it received on 25 April a merger notice into the Kier acquisition under section 96 of the Enterprise Act 2002.

It said on Friday: “The OFT now gives notice that, in accordance with section 97(2) of the Act, the period for consideration of this notice has been extended by a further period of 10 working days.

“The period for considering this notice will therefore expire on 10 June 2013.”

The combined group would have total revenue of around £2.7bn, 50 per cent of which would be from construction, 41 per cent would be services and 9 per cent would be homes and property, based on 2011/12 figures.

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