Deal with Henderson will drive growth in booming infrastructure market

LONDON (MarketWatch) -- U.K. construction and infrastructure group John Laing Plc has agreed to be bought by asset manager Henderson for 886.9 million pounds ($1.67 billion) in a deal that will help the firm take advantage of a global boom in public-private partnerships. John Laing (UK:LNGO: news, chart, profile) said its board of directors unanimously recommended the deal, which is worth 355 pence a share, a roughly 29% premium to the group's share price before its announcement earlier this month that it had received a preliminary offer.

Laing, which specializes in developing and operating road and rail projects, said the move will help drive its overseas expansion through access to funding from Henderson's infrastructure funds.

Infrastructure firms have come under the spotlight in recent months after a surge in global infrastructure project finance volumes, which grew 68% to $98.5 billion in the first half of 2006, according to a recent study by IJ Research & Analysis.

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Posted by rjorr at September 19, 2006 4:47 PM