Rumour: Downer In Takeover Talks In The UK

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By Rudi Filapek-Vandyck

We received this one from one of our sources in London: Downer EDI (DOW) is believed to be in talks about a takeover of UK listed infrastructure maintenance company Enterprise PLC (ETR.L).

The UK company issued a trading update last week, confirming all was still going according to prior guidance, meaning "underlying profit before tax for the period to 30th June is expected to be 20% ahead of the comparable period last year."

Debt at the end of the period was below GBP70m and the company’s order book stands at GBP2bn representing over 100 clients.

Current market capitalisation is around GBP320m.

The company describes itself as a "specialist in the provision of outsourced planned and reactive maintenance services to utility companies, local authorities, education establishments and other large organizations in both public and private sectors".

Enterprise PLC switched from the AIM to a full Listing on the London Stock Exchange on 8 November 2004. The company listed on the AIM in 1995.

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