Carlyle ends Shanks takeover talks

Earlier this week Shanks knocked back a final offer from Carlyle valuing the business at 476 million pounds, lower than the 536 million, or 135 pence per share, which the private equity firm offered in December.

"In response to the announcement by Shanks on March 9, Carlyle announces that it has terminated all discussions with Shanks regarding a possible offer for Shanks ... and has no current intention of making an offer for Shanks," Carlyle said in a statement on Thursday.

At the time of the 135 pence approach, key Shanks shareholders said they were looking at an offer closer to 150 pence.

Since then, Shanks has issued a profit warning, saying in February its full-year results would be hit by the impact of "exceptionally adverse" weather conditions.

Shares in Shanks, which have fallen by a fifth so far this year, closed at 108.4 pence on Thursday, valuing the business at around 430 million pounds.

(Reporting by Rhys Jones, editing by Paul Sandle)