Downer scotches Leighton talk

SYDNEY - Australian engineering company Downer EDI said yesterday it hasn't received a takeover offer from larger rival Leighton Holdings.

Downer said while it was aware of speculation that Australian engineering companies WorleyParsons, Leighton or other firms might make a bid, it had not received any offers.

Shares of Downer fell A28c to A$6.55. The shares climbed as high as A$6.93 on Wednesday amid speculation it may be among the next targets in the nation's takeover boom.

Leighton held a shareholding in Downer of less than 5 per cent in early 2006. Downer wasn't sure if Leighton still had that stake.

- BLOOMBERG