Bellway (GB:BWY) has released an update.
Bellway p.l.c. has made a rejected all-share offer to acquire Crest Nicholson, offering a 30% premium on Crest Nicholson’s share price at the time of the offer and a 20.5% premium over the 3-month average. Bellway sees a strategic and financial benefit in merging with Crest Nicholson, aiming to create a leading UK housebuilder with enhanced market capabilities and shareholder returns. The company must declare its firm intention to make a takeover offer or withdraw by the 11th of July 2024, as per the City Code on Takeovers and Mergers.
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