John Liang Plc today announced that it had received a non binding proposal, and was now in bid talks. Although whether the proposal would lead to a direct offer has yet to be confirmed.

John Laing Plc manages construction projects such as roads, hospitals and schools.

The announcement came following a surge in shares of up to 22% taking the value of the company to above 770 million pounds.

In a Regulatory News Service statement Laing said that “The Board confirms that it has received a non binding proposal with regard to a possible offer. The Board will inform shareholders of any further developments if and when they occur.”