Standard Life Group sells 1.2m shares in Galliford Try

One of the major institutional shareholders in Galliford Try has announced that it has sold over a million shares.

Latest information released on the Stock Exchange today shows that Standard Life Group has sold almost 1.2 million shares.

Galliford recently rejected an approach from Rok which offered 54p a share, saying that it needed 60p a share to get things on the move. Rok went away and subsequently bought three of the five construction divisions of the former Ballast plc.

Galliford's shares werre last week trading at around 42p.

The investor still has a substantial holding in Galliford - its 8m shares amount to a 3.6% slice of Galliford's total shares.