Galliford Try eyes £1.1bn sale of resi arms to Bovis Homes

摘要

Galliford Try saw its share price shoot up by 20% on the back of revelations it has rekindled talks with Bovis Homes over a possible £l.lbn sale of its housing and regeneration arms, writes Will Ing. Bovis, which is headed by former Galliford Try boss Greg Fitzgerald, has already seen one takeover bid rebuffed by Galliford Try. But the housebuilder has now offered to pay £300m in cash, as well as £675m in new shares, and take on a £100m debt placement, in exchange for the contractor's Linden Homes and Partnerships and Regeneration businesses.