John Laing is set to be snapped up by private equity giant KKR in a £2 billion takeover deal.

Under the terms of the bid, which has been accepted by John Laing’s board of directors, shareholders will receive 403p per share in cash, a premium of 27 per cent to the closing price on May 5, the day before the company confirmed that it was in takeover talks.

John Laing’s chair, Will Samuel, said: “KKR is a strong partner, providing long-term capital and global expertise to accelerate John Laing’s strategy, growing the development capacity and assets of John Laing and creating opportunities for our employees and broader stakeholders.

“This is particularly relevant in the current environment where there may be significant opportunities to invest in critical infrastructure which responds to public needs.”

Read more/Source: Scottish Construction Now