Dive Brief:

• The proposed merger of British contractor Carillion and Balfour Beatty looked like it might be back on Thursday evening, only to be called off again Friday. 
• Carillion approached major Balfour stockholders with a proposal for an extra cash dividend, as well as an explanation of why the merger makes sense from Carillion's perspective, that Balfour in turn rejected.
• In the previous installment of the series, Balfour Beatty's management spurned Carillion when it became clear that Carillion wants Balfour with American subsidiary Parsons Brinckerhoff, which Balfour was determined to sell off.

Dive Insight:

Carillion told the stockholders that it believes a merged company could save about $293 million a year. Balfour Beatty simply responded with the statement that the proposal was "not in the best interests of Balfour Beatty shareholders."