- Structural steel group Severfield said it had agreed to acquire rival Harry Peers & Co for an initial £18.0m.

A performance-based deferred consideration was in place, which could increase the purchase price by up to £7.0m, which would be payable in late 2020.

'The acquisition will significantly expand and extend Severfield's current capabilities into attractive complementary market sectors: nuclear, process industries and power generation,' Severfield said.

'Combining the businesses will enhance Severfield's position as the UK's broadest structural steel services group.'

At 9:57am: [LON:SFR] Severfield share price was 0p at 71.1p

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