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What Next for Bovis Homes?

In our weekly look into the world of business, Luke Pritchard from our corporate & commercial...

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What Next for Bovis Homes?

14th March 2017

News : Commercial

In our weekly look into the world of business, Luke Pritchard from our corporate & commercial department, takes a look at some of Britain’s biggest housing developers…

Bovis Homes, the property developer valued at £1.1bn, has become the subject of a corporate tug of war between its main competitors.

Bovis issued a profit warning in January, causing its boss to be ousted and creating some concern as to the financial health of the company.

Reports over the weekend suggested that Redrow had failed with a merger bid.

Further reports now suggest that another competitor, Galliford Try, made an improved offer, but that was also rejected.

If either merger attempt is successful, it will create one of Britain’s top five largest home builders.

In this “pre-brexit” window, it is encouraging to see large British businesses showing the confidence to invest in acquisitions.

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