UK's CMA to seek views on Barratt £2.5bn Redrow takeover
UK competition regulators on Friday said they were taking an initial look into Barratt's £2.52bn takeover of homebuilding rival Redrow.
Source: Sharecast
The Competition and Markets Authority (CMA) said it was seeking initial views on how the deal could impact competition in the UK.
Its invitation to comment closes on April 2 after which it will decide to launch a full investigation.
The two companies last month reached agreed to an all-share offer from Barratt, which would consolidate its position as Britain's largest housebuilder.
Barratt will control the merged group - to be renamed Barratt Redrow - with a 67.2% stake, while Redrow shareholders keep the remaining 32.8%.
Redrow investors will receive 1.44 new Barratt shares for their own stock. The terms also imply a premium of 27.2% to the closing price per Redrow Share of 600p on February 6.
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