27th May 2019 09:31
LONDON (Alliance News) - The housebuilding & construction firm Galliford Try PLC has rejected a takeover bid from rival Bovis Homes PLC, the Sunday Times reported.
https://www.thetimes.co.uk/article/bovis-boss-greg-fitzgerald-makes-takeover-bid-for-galliford-try-qf9l0l238
On Saturday, Sky News said Bovis has approached Galliford Try in the last few weeks about a combination of a large chunk of their operations.
However, the news agency - referring to Bovis insider - cautioned that the FTSE 250-listed firm was unlikely to be interested in Galliford Try's troubled construction division, which was responsible for a recent profit warning from the group.
Following a Sky News report, the Sunday Times reported that Galliford Try had rejected the bid because it did not "fully value" the two divisions. Bovis's offer would have seen Galliford Try's "beleaguered" construction arm remain an independent company owned by Galliford investors.
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