Statement regarding media speculation

RNS Number : 3935C

Babcock International Group PLC

17 June 2019

 

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       

Simon McGough	Kate Hill
Director of Investor Relations	Group Director of Communications
Tel: [phone]	Tel: [phone]
FTI Consulting
Nick Hasell / Alex Le May / Andrew Lorenz
Tel: [phone]

 

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