UK Housebuilders in Merger Mode as Election Points to Revival
- Crest Nicholson latest to get takeover approach; shares jump
- Three potential deals put volumes on track for decade high
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A wave of consolidation among Britain’s homebuilders before next month’s general election could lift deal volumes in the sector to the highest in over a decade this year.
Bellway Plc’s rejected approach for Crest Nicholson Holdings Plc — revealed Friday — marks the third potential big deal in the sector this year. Barratt Developments Plc has agreed to buy Redrow Plc in a pact that would create the UK’s biggest homebuilder, while Persimmon Plc is reported to be among firms exploring a takeover of Cala Group Ltd, owned by Legal & General Group Plc.