Here’s why housebuilder shares are down today November 8, 2017 It was a bad morning for housebuilders, with companies listed on both the FTSE 100 and FTSE 250 dragging the indices lower. Persimmon, the UK’s largest housebuilder by volume, led the fallers on the FTSE 100, with shares dropping 3.4 per cent to 2,772.5p, while Barratt, Taylor Wimpey and Berkeley Group were all among the [...]
Housebuilders have become hooked on the government’s help to buy scheme August 7, 2017 Have we witnessed the beginning of the end of help to buy? Shares in UK housebuilders plummeted at the end of last week after reports suggested the government has asked the London School of Economics (LSE) to review the scheme’s efficacy. It is arguable the scheme, whose first iteration was launched in April 2013, is [...]
Bovis Homes approaches Wates boss to take over at the top March 20, 2017 Bovis Homes has held talks with the boss of construction firm Wates Group in an attempt to snap him up as the firm's next chief executive, according to reports. The board of the housebuilder identified Andrew Davies as the person to succeed David Ritchie, who exited the firm in January after a profit warning, Sky News reported. Read more: Top [...]
Bovis Homes urged to pursue deal with Redrow over Galliford Try by top 10 investor Royal London Asset Management March 19, 2017 Bovis Homes has been urged to ditch Galliford Try merger talks for fellow rival Redrow by one of its top 10 investors. The suggestion by Royal London Asset Management, which owns a 3.5 per cent stake in Bovis, came as it emerged that Redrow is considering a revised offer. Read more: This is what analysts [...]
Article 50, schmarticle 50: UK deal activity is booming, with a flurry of deals so far in 2017 March 14, 2017 The imminent triggering of Article 50 appears to be having no negative effect on UK mergers and acquisitions (M&A), with several major deals announced in recent weeks. New figures show British deal activity has been booming since the Brexit vote, and this year especially. This week’s Bovis bidding war, currently being fought by Galliford Try and [...]
Other offers likely? This is how analysts are reacting to the Bovis-Redrow-Galliford Try love triangle March 13, 2017 Bovis Homes’ share price leapt this morning after it emerged over the weekend that it is involved in a love triangle with rivals Galliford Try and Redrow. Bovis yesterday confirmed it was in merger talks with Galliford Try and had rejected a bid from Redrow. However, Redrow this morning indicated it is holding out hope [...]
UK oil services companies John Wood Group and Amec Foster Wheeler in £5bn merger deal March 13, 2017 Two UK oil services firms have agreed to a £5bn merger. John Wood Group announced this morning it had agreed a takeover deal for FTSE 250-listed Amec Foster Wheeler. Amec’s share price jumped 18 per cent to £5.76 at the time of writing, while John Wood’s was up eight per cent to £8.10. [stockChart code="AMFW" date="2017-03-13 [...]
Bovis share price surges as Redrow holds out hope for deal despite official takeover talks with Galliford Try March 13, 2017 Bovis Homes remains in talks with Galliford Try on a possible takeover after the FTSE 250 firm rejected a bid from rival housebuilder Redrow. The confirmed all-share merger with Galliford Try, also listed on the FTSE 250, would create a £2.5bn company. However, Redrow is clearly still holding out hope for a deal. In a [...]
Bovis Homes confirms merger talks with Galliford Try after rejecting Redrow offer March 12, 2017 Bovis Homes is in £2.5bn merger talks with fellow housebuilder Galliford Try after rejecting a bid from Redrow. FTSE 250-listed Galliford Try said the tie-up would create “a new major housebuilder with national scale and geographic coverage through the combination of the sixth and eighth largest UK housebuilders by completions”. Bovis, which is also on [...]
New Homes: What’s on sale in London this weekend in Hackney, Southwark, Bermondsey, Mitcham and Clapham March 10, 2017 Kings Crescent, Hackney From £98,750 for a 25 per cent share First time buyers living or working in Hackney will be able to get a step on the ladder with Shared Ownership at Kings Crescent. Tomorrow will see 36 none to three bedroom apartments on sale, some refurbished some new, next to Clissold Park each [...]