TEG revealed yesterday that KPMG had approached Kier on its behalf to sound out whether it might be interested in acquiring TEG.
Responding to a recent share price rise, TEG explained that it had appointed KPMG to undertake a strategic review. KPMG also sounded out a venture capital firm.
Kier this morning confirmed that it had been approached by KPMG but had had no direct discussions with TEG and has no intention of making an offer for TEG.
Chorley-based TEG specialises in organic waste treatment works like anaerobic digestion plants.
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