Sir Fraser AWG bid could find favour

Sir Fraser Morrison’s rejected offer for Anglian Water Groups (AWG) property and housing divisions could be treated more favourably if a £900m management buy-in WestLB is leading, is successful, reports The Times. The newspaper reports Sir Fraser’s brother, Gordon, is said to be involved with the WestLB bid. The Times says the brothers separate interest in part of AWG could see the assets of the old Morrison Construction business removed from those of the water group. WestLB could encourage Gordon Morrison to lead a management buyout of the construction operation. The Guardian says Sir Fraser Morrison denied acting in concert with brother Gordon although it says both brothers have confirmed they are separately interested in acquiring substantial parts, if not the whole, of AWG. References: The Times 13/02/03 page 28 (Need to know), page 33, The Guardian 13/02/03 page 28