FTSE 250 housebuilder Vistry plans to take over troubled rival Countryside Partnerships
FTSE 250 housebuilder Vistry is planning a takeover of its troubled rival Countryside Partnerships.
Vistry boss Greg Fitzgerald is believed to be considering a nosedive after Countryside put itself up for sale in June after rejecting two bids from third-largest investor Inclusive Capital.
Takeover: Vistry boss Greg Fitzgerald is believed to be considering a nosedive after Countryside was put up for sale in June
Inclusive has offered up to £1.5bn for the company but Vistry is believed to be targeting a lower bid as the outlook for the property market dims amid rising inflation, the Sunday Telegraph reported.
The company is betting that acquiring Countryside at a bargain price will allow it to reap the benefits of a homebuilding boom expected under Liz Truss, who has vowed to cut red tape in the sector.