Galliford Try Rejects Bovis Approach

Talks with FTSE 250 housebuilder Bovis to buy Galliford's housebuilding arm have broken down

James Gard 28 May, 2019 | 11:01AM
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Bovis Homes

Shares in Galliford Try (GFRD) climbed as the FTSE 250 construction and property company confirmed it had rejected an offer from fellow mid-cap housebuilder Bovis (BVS) for its housebuilding arm.

Galliford said in a statement it had rejected a preliminary offer from Bovis for its Linden Homes and Partnerships & Regeneration division on the grounds that it does not fully value the businesses. The offer would have seen Galliford shareholders receiving Bovis Homes shares for a total consideration of £950 million and £100 million of Galliford’s debt.

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Securities Mentioned in Article

Security NamePriceChange (%)Morningstar
Galliford Try Holdings PLC190.70 GBP0.00
Henderson High Income Ord157.21 GBP-3.55Rating
Jupiter Distribution and Growth I Inc115.86 GBP0.68Rating
Persimmon PLC2,692.00 GBP0.00
Premier Miton Ethical C acc500.42 GBP0.61Rating
Taylor Wimpey PLC157.20 GBP0.00
Vistry Group PLC1,195.50 GBP0.00

About Author

James Gard  is content editor for