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Merger creates infrastructure giant

Costain have merged with Norfolk firm May Gurney in a £370m deal

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Costain to merge with May Gurney

Costain is to merge with May Gurney.

Costain earned pre-tax profits of about £26 million on revenues o f£930 million in 2012. May Gurney had revenues of about £700 million in its latest financial year, earning profits of #19.3 million.

Costain's existing shareholders will take 53% of the enlarged company, with May Gurney investors taking 47%.

The deal still needs the backing of both sets of shareholders.

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