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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It will be a largely cloudy but humid day with the risk of hit-and-miss heavy showers and thunderstorms.
It will turn dull and misty again overnight but it will stay mild. Tomorrow will be mostly cloudy with a risk of localised heavy showers.
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