Housebuilder, Bovis Homes has completed its acquisition of Galliford Try’s Linden Homes and Partnerships and Regeneration businesses and announced a new name for the enlarged housebuilder. The £1.1 billion deal was agreed in November, which consists of a combination of shares in Bovis and cash, and the transfer to Bovis of GT’s £100 million debt
This month Bovis Homes has agreed to buy Galliford Try’s Linden Homes and Partnerships and Regeneration businesses in a deal worth £1.075 billion comprising a combination of shares in Bovis and cash. Bovis reported that the deal creates a top five national housebuilder with the capacity to deliver more than 12,000 homes per year over
The potential merger of Bovis Homes and Galliford Try’s housebuilding businesses goes through it would create the UK’s fourth largest housebuilder, says Stephen Teagle, chief executive of Galliford Try Partnerships and Regeneration. Speaking to Housebuilder, Teagle said the possible sale of GT’s housebuilding and partnerships and regeneration arms to Bovis would create a “sector leading regeneration
Issuing a trading update for the period from January 1 to May 20 2019, Galliford Try, the housebuilding, regeneration and construction group said that its housebuilding arm Linden Homes had continued “continues to perform well” and maintained a sales rate of 0.68 since the start of the year; this was a dip on the 0.71 of
Bovis Homes has appointed Greg Fitzgerald as its new Chief Executive whilst rejecting Galliford Try’s merger proposal. Fitzgerald took up his post on April 18 following the departure of David Ritchie in January, he is the former CEO and Chairman of Galliford Try. He spent more than 30 years at the housebuilding and construction business.
Bovis has confirmed that it has received merger proposals from both Galliford Try and Redrow. The firm has rejected both saying that “neither reflected the underlying value of the Bovis business”, but confirmed that talks are continuing with Galliford Try. Redrow proposed a share and cash deal which in aggregate amounted to £8.14 per Bovis
Linden Homes’ completions rose 11% in the year to the end of June according to Galliford Try’s trading statement issued last week. Linden has seen average sales rates reach 0.68 per site per week from an increased number of outlets, 84 in all. The housebuilder enters the new financial year with record sales exchanged and
Strong trading continues for Barratt Developments and Galliford Try, with the two firms offering updates to the City yesterday (May 13). Barratt, reporting on figures from January 1 to May 10 2015, said that its housing completions for the year were expected to be “ahead of previous guidance” at around 16,100, up from 14,838 at