Barratt Developments (GB:BDEV) has released an update.
Barratt Developments PLC has successfully passed a shareholder resolution to acquire Redrow plc through an all-share offer, marking a significant step in their proposed merger. The deal, which involves the issuance of approximately 476 million new Barratt shares to Redrow shareholders, is expected to be completed in the second half of 2024, pending the satisfaction of remaining conditions. This strategic move is set to create a formidable presence in the property development sector, with both sets of shareholders showing strong support in recent general meetings.
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