Galliford Try plc announced that it has entered into an agreement with Bovis Homes Group PLC regarding a combination of Bovis Homes and Galliford Try's Linden Homes and Partnerships & Regeneration divisions. Linden Homes is the housebuilding division of Galliford Try, one of the UK’s leading housebuilding and construction companies.
The Transaction values the Housing Businesses at GBP 1.075 billion (USD 1.381 billion). The consideration will be satisfied through:
The Transaction relates solely to a combination of Bovis Homes and Galliford Try's Housing Businesses and does not relate to a merger with Galliford Try. The Potential Transaction envisages Galliford Try remaining a UK-listed construction-focused group owned entirely by Galliford Try shareholders.
The deal is expected to close on January 3, 2020.