HOOK (dpa-AFX) - Serco (SRP.L) has made at least two attempts to merge with its bigger outsourcing rival Babcock, a deal that would create a 4 billion pounds defence giant, The Sunday Times reported.
According to the report, Serco made a preliminary approach late last year. Serco's Chairman Roy Gardner contacted his counterpart at Babcock, Mike Turner, who rejected the bid.
The report also said Serco returned with a more detailed proposal for an all-share merger in January.
Copyright RTT News/dpa-AFX