Galliford Try has rejected a £950 million all-share bid from Bovis Homes for its housebuilding and regeneration businesses, insisting that it is “confident” about its prospects as a standalone company. The two mid-cap builders are no longer in talks after it emerged this weekend that they had spent weeks discussing a deal. This was rejected on Friday because Galliford Try said it “did not believe that the proposal fully reflected the value of the housing business”. The bid would have also involved Bovis covering a £100 million debt placement by Galliford Try, funded by the issuance of new shares. It would have left Galliford Try focused on construction as…

Source: The Times May 28, 2019 07:52 UTC