Announced
Completed
Financials
Tags
Merger
Acquisition
Single Bidder
Majority
United Kingdom
Friendly
Private
homebuilder
Real Estate Holding and Development
Completed
Private Equity
Synopsis
Galliford Try combined its Linden Homes and Galliford Try Partnerships businesses with Bovis Homes. The Bovis consideration is valued at £1.1bn, with a cash element of £300m and a further transfer of a £100m private debt placing to Bovis. The remainder of the offer is a £675m share issue of new Bovis shares to existing Galliford Try shareholders on a pro rata basis. “The transaction is an exciting opportunity to create two strategically focused businesses. The significant cash element within the consideration provides a firm foundation for our newly reorganised Construction business to flourish as an independent company. The strong balance sheet and excellent fit between the combining businesses will be a superb platform for both private housebuilding and partnerships, creating a unique and well-positioned housing provider," Graham Prothero, Galliford Try Chief Executive.
© COPYRIGHT 2024 MERGERLINKS LIMITED.
ALL RIGHTS RESERVED.
15 BONHILL STREET, LONDON, EC2A 4DN, UNITED KINGDOM.