Crest Nicholson, a UK homebuilder, has reported a loss amid ongoing challenges in the UK housing market. The company's shares have plunged following the announcement. On June 13, Bellway, another British homebuilder, confirmed an $8.3 billion all-share bid to acquire Crest Nicholson. However, Crest Nicholson rejected the $830 million offer on June 14, stating that the revised proposal undervalued the company. The bid, valued at approximately £667 million, was made last month.
UK homebuilder Crest Nicholson rejects £667mn bid from rival Bellway https://t.co/Er3JorStZY
UK homebuilder Crest Nicholson says it rejected a takeover offer from Bellway last month https://t.co/NdP0emy7UQ
UK homebuilder Crest Nicholson rejects bid from rival Bellway https://t.co/zBgWtydvUM
UK's Crest Nicholson says Bellway's revised proposal undervalues group https://t.co/CGcGAycmvS https://t.co/03s0Sr0pZM
UK's Bellway says rival Crest Nicholson rejected $830 mln bid https://t.co/da3A9Giny0 https://t.co/FA6M8QnGgR
🔵 UK'S BELLWAY CONFIRMS $8.3 BILLION BID FOR RIVAL CREST NICHOLSON British homebuilder Bellway on Thursday confirmed that it had recently made an all-share offer to acquire Crest Nicholson, in a deal which would have valued the rival at about 6.5 billion pounds ($8.29… https://t.co/x5hpV5V1SZ
Crest Nicholson shares plunge amid latest warning for housebuilders https://t.co/tOFnOfon3o
Crest Nicholson slides into loss amid UK housing market woes https://t.co/fyeHQvr5KE