Bellway (GB:BWY) has released an update.
Bellway PLC has proposed an all-share offer to acquire Crest Nicholson Holdings PLC, with a revised proposal that suggests Crest Nicholson shareholders would receive 0.099 Bellway shares, an interim dividend, and a special dividend, pending a deal completion. The offer implies a significant premium over Crest Nicholson’s recent share price. The potential merger aims to combine the strengths of both companies to create a leading UK housebuilder, with operational benefits and increased market presence.
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