Crest Nicholson Holdings (GB:CRST) has released an update.
Crest Nicholson Holdings has rejected a revised all-share acquisition offer from Bellway, deeming the proposal as significantly undervaluing the company and its future prospects. The offer would have given Crest Nicholson shareholders a 17.1% stake in the combined entity, with an 18.8% premium over its recent share price. Crest Nicholson remains confident in its standalone prospects, buoyed by positive half-year results and strategic land portfolio.
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