Two big developers consider merge

“Two of the UK’s biggest housebuilders have kicked off secret talks about ‎a tie-up just two years after a previous set of merger discussions broke down.

Sky News has learnt that Bovis Homes Group has approached Galliford Try in the last few weeks about a combination of a large chunk of their operations.

If consummated, a ‎deal would represent a fresh catalyst for consolidation in Britain’s housebuilding sector.

Bovis has a market value of just over £1.3bn, while Galliford Try, which owns the Linden Homes housebuilding brand, is worth roughly £550m.

Both are among the ten largest housebuilders in the UK. …

A Bovis insider‎ cautioned that it was unlikely to be interested in Galliford Try’s troubled construction division, which was responsible for a recent profit warning from the group.”

https://news.sky.com/story/bovis-approaches-rival-galliford-try-about-housebuilding-merger-11728118

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