Major investor urges Bovis merger with Redrow
Troubled housebuilder Bovis has been urged by a major investor to abandon merger talks with Galliford Try and instead join forces with Flintshire-based Redrow.
FTSE 250-listed Bovis last week rejected move with Redrow – 40% controlled by founder and former Wolverhampton Wanderers owner Steve Morgan – saying it was in discussions with Galliford over a £2.5bn link up.
It said Redrow’s cash and shares offer had been too low.
However, Richard Marwood, a fund manager at Royal London Asset management and a top shareholder at... For the full story register now for free or login below...