Slaughter and May is advising Costain Group PLC ('Costain') on its recommended all-share merger with May Gurney Integrated Services plc ('May Gurney'). The merger will bring together two businesses with complementary service offerings to create one of the UK's leading integrated services providers to the rail, highways, water, waste, airports, hydrocarbons, power, nuclear, local government and fleet management sectors.

The merger, which was announced on 26 March 2013, will be implemented by way of a court-sanctioned scheme of arrangement of May Gurney pursuant to which Costain will acquire the entire issued and to be issued ordinary share capital of May Gurney. Upon the Merger becoming effective, Costain shareholders will hold approximately 53%, and May Gurney shareholders will hold approximately 47%, of the issued share capital of Costain, which will be renamed "Costain May Gurney PLC".

The merger values May Gurney's fully diluted share capital at approximately £178 million.

Costain, one of the UK's leading tier one engineering solutions providers, is headquartered in Maidenhead.  Costain's shares are traded on the main market of the London Stock Exchange. May Gurney is a support services company headquartered in Norwich whose shares are traded on the AIM market of the London Stock Exchange.

Contacts

Corporate and Commercial: Andrew Jolly (partner), Nick Pacheco (associate), Sarah Ullathorne (associate), Tom O’Neill (associate), Bernhard Georgii (associate); Finance: Simon Hall (partner), Ed Peacock (associate); Competition: Michael Rowe (partner), Anna Lyle-Smythe (associate); Pensions and Employment: Sandeep Maudgil (partner), Roland Doughty (partner), Eleanor Hart (associate), Sarah Ferguson (associate), Joanna Morgan (associate); Tax: Gareth Miles (partner), Ed Milliner (associate); Real Estate: Edward Keeble (partner), Samantha Brady (associate)

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