Redrow walks away from Bovis takeover after offer is rejected

Galliford Try is frontrunner after rival declines to increase offer for Bovis, which has been under fire over badly built homes

Redrow has walked away from buying Bovis Homes after deciding not to increase its takeover approach, clearing the field for rival housebuilder Galliford Try.

Bovis, which is under pressure following severe criticism over the quality of its homes, a shock profit warning and the departure of its chief executive, confirmed on 12 March that it had received takeover approaches from Redrow and Galliford.

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From The Guardian
Redrow walks away from Bovis takeover after offer is rejected