Serco merges twice with Babcock: The Sunday Times

LONDON (Reuters) – British contractor Serco has twice attempted to merge with its biggest outsourcing rival, Babbad, to create a company worth 4 billion pounds. 5.04 billion dollars), reported Sunday Times.

Serco made a preliminary approach at the end of last year, according to the newspaper. Serco President Roy Gardner contacted his Babbad counterpart, Mike Turner, who rejected the offer, according to the report.

Serco then returned with a more detailed proposal to merge all the shares in January, the newspaper said.

The two companies could not be contacted immediately outside normal business hours.