£2.5bn mega-merger between housebuilding giants takes a step forward
The £2.5bn deal to merge housebuilding giants Barratt and Redrow has taken a significant step forward.
The shareholders of Leicestershire-based Barratt and Redrow have voted to progress the mega-deal, to create a group that turned over £7.5bn last year and will have a land pipeline of over 92,000 plots.
The deal, announced in February, cane on the back of huge drops in turnover and profit at Barratt.
Revenue fell by over a third to £1.85bn for the half year to to end of 2023, while profit before tax fell by 81% to £95.2m ... You can carry on reading TheBusinessDesk.com for free, but you have reached the maximum number of pages an unregistered user can view. To register for an account, click here or login below...
