Bellway (GB:BWY) has released an update.
Bellway PLC has announced that it will not be proceeding with a takeover offer for Crest Nicholson, citing confidence in its own financial stability and growth prospects. Despite previous discussions, the company has decided to focus on its own operational strength and land bank quality to create shareholder value. Bellway is bound by certain restrictions unless specific conditions are met, as dictated by the Takeover Panel’s Rule 2.8.
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