Breaking News: White Young Green confirms takeover approach

BUILDING, environmental and housing consultant White Young Green has confirmed it has received an approach regarding a possible offer for the company.

The Headingley-based group, which has provided consultancy work on stands at Headingley Stadium and York Racecourse, made the announcement following recent movement in the group’s share price.

The groups shares rose by 62p today to 334.00p – valuing the group at around £172.55m – prompting WYG to make the announcement.

In a statement the company said “there can be no certainty that any offer will be made” and advised its shareholders not to take any action at this time.

In February the company said gross revenue grew by 35% – adding its strong performance had been generated by a mixture of acquisitive and organic growth.

Since July last year, WYG has completed three acquisitions for a total of £33.1m including Independent Transport Consultants trading as Savell, Bird and Axon, Management Consultants Group and P H McCarthy Consulting Engineers.

WYG employs 3,000 staff in more than 30 locations serving a diverse range of clients in the public and private sectors.

Recent projects secured by WYG include the project management of the 15,000 housing stock transfer from Liverpool City Council to Liverpool Mutual Homes, the £400m development of Clapham Junction in London, road improvement projects in Cork in Ireland as well as “socio-economic and technical projects” in Eastern Europe and Africa.

The group said a further announcement will be made in due course.