French construction giant, VINCI, is looking to acquire civil and utilities infrastructure company, Seymour Whyte (ASX:SWL).
Seymour Whyte has around 460 staff, and specialises in roadwork such as the Pacific Motorway upgrade in NSW.
The company has agreed to an exclusivity arrangement with Vinci for a three-month period from 16 March.
During that period, Seymour Whyte will provide Vinci with due diligence information, and notify it of any alternative proposals.
This morning, Seymour Whyte shares are tracking 0.4% higher at $1.31.