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Mouchel rejects Costain’s revised put on the marketMouchel has bis jilted Costain’s occupation suggestion, motto that it “importantly undervalues the trade”.

Yesterday Costain upped its tender in the service of the consultancy and services stiff from 105.8p per division to 135p, rearing the assess of the entreat from f119m to f152m. Subsequently telling off its advisers, the table of Mouchel over again thought no buy.

Costain responded beside expression that it was stupefied next to Mouchel's reply, everything considered that the proffer correspond to a dividend of 138.9% in excess of Mouchel’s concluding appropriation amount of 56.5p without delay former thereto arrival the coeval put on the market term on 6 Dec 2010.

Costain held: “That arbitration alongside the surface of Mouchel denies its shareholders the 1 to keep a greater post in a successfully capitalised, financially economic, blown-up vocation, with a crystalline blueprint on days gainful expansion.”

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