US contractor Tutor Perini says takeover talks are over

Los Angeles-based contractor Tutor Perini has responded to rumours of takeover talks by confirming that they had taken place, but were now over.

A statement by the company said a special committee appointed by its board had been meeting an buyer, but that no agreement had been reached.

The company did not say who the potential buyer was, however Reuters reported in February that American private equity firm Apollo Global Management was planning to purchase the company for £1bn.

It added that market volatility had played a part in the decision to call the sale process to a close, and that it would not comment further on the situation unless it was necessary.

Image: New York’s Hudson Yards development, where Tutor Perini has won multiple contracts

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