Sources mention that the going price for Mouchel could be £400 million, although others say it could be as high as high as £500m.

The firm was forced into administration in 2012.

In September, Kier announced a 59 per cent increase in underlying operating profits for the 12 months to June 2014 while revenue was up 51 per cent to £3 billion, following nearly a full year inclusion of Kier’s acquisition of May Gurney.