Price for Keepmoat and Apollo merger'still to be worked on'

摘要

Financial terms for the proposed takeover of £350m-turnover social housing contractor Apollo, by larger northern rival Keepmoat, remain to be thrashed out, despite an announcement of the planned deal last Friday. Keepmoat chief executive David Blunt said the planned deal, which would create a £lbn-turnover social housing contractor and developer called Keepmoat, was "still to be worked upon" and only the principle of merging the firms had so far been agreed. Apollo will remain as a brand under the Keepmoat umbrella, and the chief executive of Apollo, Dave Sheridan, will run the southern regions. Blunt also said the deal is partly driven by a desire to demonstrate greater financial security to potential customers.