17 June 2019
Babcock International Group PLC ("Babcock" or the "Company")
Statement regarding media speculation
Babcock, the Aerospace and Defence business, notes the media speculation in respect of a previous approach for the Company. Given that Babcock is currently undertaking an investor roadshow following its full-year results and capital markets day, the Company wishes to confirm that on 23 January 2019 it received an unsolicited and highly preliminary proposal from Serco Group Plc ("Serco") regarding a potential all-share combination between the two companies (the "Proposal") and confirms that no further proposal has been received.
The Board of Babcock, together with its advisers, carefully considered the Proposal and unanimously rejected it, having concluded that a combination of the two companies had no strategic merit and was not in the best interests of Babcock's shareholders, customers or wider stakeholders.
ends
For further information please contact:
Babcock International Group PLC
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Simon McGough |
Kate Hill |
Director of Investor Relations |
Group Director of Communications |
Tel: +44 (0)20 3823 5592 |
Tel: +44 (0)20 7355 5312 |
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FTI Consulting |
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Nick Hasell / Alex Le May / Andrew Lorenz |
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Tel: +44 (0)20 3727 1340 |
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