Shares in Mowlem jumped up yesterday, forcing the engineering company to reveal it had received a preliminary approach which could lead to an offer to buy it.
Shares in the firm, which has an office in Wolverhampton, finished trading yesterday 14.5 per cent up at 198p, valuing Mowlem at around £284 million.
Mowlem said that the talks were at a very early stage and there was no certainty an offer would be made.
In July, the company had warned that full year profit would be around £20 million lower than expectations following a review of the way it valued contracts and recognised profits.
