- Barratt Developments agrees to buy smaller housebuilder Redrow for £2.52 billion
- Redrow shareholders to receive 1.44 new Barratt shares for each share held
- Deal offers a 27% premium to Redrow’s closing price
In a move set to reshape the UK housing market, Barratt Developments has announced its agreement to acquire Redrow in an all-share deal worth £2.52 billion. This strategic acquisition will create an exceptional UK homebuilder, combining the strengths of both companies to deliver unparalleled quality, service, and sustainability.
Barratt to Become an Industry Powerhouse
Barratt Developments, one of the UK’s largest residential property developers, will solidify its position as a market leader with the acquisition of Redrow. This deal will enable Barratt to expand its portfolio, enhance its geographical reach, and drive innovation in the industry.
Shareholder Benefits and Premium Offer
Redrow shareholders have overwhelmingly approved the deal, entitling them to receive 1.44 new Barratt shares for each Redrow share held. This translates to a 27% premium to Redrow’s closing price on Tuesday, providing shareholders with significant value and potential for future growth.
Creating a Stronger Combined Group
After the completion of the acquisition, Redrow shareholders will own 32.8% of the combined group, while Barratt shareholders will hold the remaining majority. The combined group will benefit from the expertise, resources, and capabilities of both companies, creating a powerhouse in the UK housing market.
Commitment to Quality, Service, and Sustainability
Both Barratt Developments and Redrow are renowned for their commitment to excellence, and this acquisition will further elevate their dedication to quality, service, and sustainability. The combined group will leverage its collective strengths to exceed customer expectations, provide exceptional employee experiences, and drive innovation throughout the supply chain.
The acquisition of Redrow by Barratt Developments marks a significant milestone in the UK housing market. The combined group’s exceptional capabilities and shared commitment to excellence will undoubtedly reshape the industry, offering customers unprecedented quality, service, and sustainability. Shareholders and industry experts alike eagerly anticipate the future prospects and successes of this powerful partnership.