US: Galliford rejects Bovis Homes bid

Britain’s Galliford Try announced on Saturday, May 25, it had rejected a bid from home builder Bovis Homes Group as the offer was not in the interests of all shareholders.

Galliford Try said in a statement that Bovis intended to buy Galliford Try’s Linden Homes and Partnerships & Regeneration arm in exchange for new Bovis Homes shares.

“The board carefully considered the Bovis Homes proposal together with its financial adviser Rothschild” and rejected it because “it does not fully value the Linden Homes and Partnerships & Regeneration divisions and is not in the interests of all shareholders.”

Full Content: Financial Times

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