The takeover battle for UK construction and infrastructure group John Laing has taken a fresh twist after fund manager Henderson its bid offer.
private equity arm is now offering 1bn ($1.9bn) for the business as it aims to trump a 958m offer from German company Allianz.
John Laing agreed to Allianz’s bid at the end of last month, after earlier backing a previous Henderson offer.
Laing builds and schools and owns the Chiltern Railways franchise.
It has overseen more than 50 public sector infrastructure projects under the private finance initiative (PFI).
The firm also built the second Severn Bridge crossing, and outside the UK has been involved in road building schemes in Norway, Poland and the United States.
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