Costain: we're not Mouchel buyer

The Mouchel-Costain saga took several twists this morning. Mouchel put out a statement early on saying it was in talks with a potential acquirer. Everyone assumed this was Costain, with reports suggesting it was in talks already. But Costain has just put out a statement saying it is not them. Who could the new buyer be? Balfour Beatty , Carillion and Capita have all been mentioned, although Carillion is unlikely to be the buyer given its tie-up with Eaga. One of the American engineers - CH2M Hill , which lost out in bidding for Scott Wilson last year - could be in the frame. Mouchel said this morning of its possible buyer: Mouchel believes that the strategic logic of a combination of Mouchel and the Preferred Possible Offeror would provide the best option to deliver value to shareholders. Mouchel are up 10% at 11:20, 13p up to 149p.