Homes built by Galliford Try’s Linden Homes arm
Galliford Try has rejected a £950m by Bovis Homes Group to acquire its Linden Homes and partnerships and regeneration businesses.
The deal would have seen Galliford Try shareholders receiving new Bovis Homes shares pro rata to their current Galliford Try shareholdings and would have left Galliford Try as an independent group focused on construction.
Galliford Try said it had “carefully considered” Bovis’ proposal together with financial adviser Rothschild & Co but rejected it because it believes it “does not fully value” the Linden Homes and partnerships and regeneration divisions and “is not in the interest of shareholders”.
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