Half Year Results 

Bovis makes second Galliford bid

Bovis makes second Galliford bid

Given the slowdown in private house price growth, Bovis Homes’ (BVS) decision to take another shot at acquiring Galliford Try’s (GFRD) housebuilding operations is understandable. The sweetened deal – which values Linden Homes and partnerships and regeneration at £1.08bn – would not only enhance Bovis’s scale, but accelerate its push into the affordable homes sector. Shareholders in the target would receive 0.57406 Bovis Homes shares per Galliford share, while the company would get £300m in cash and offload £100m of its 10-year debt. 

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