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Fri March 29 2024

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Bovis merger reports emerge

23 Jan 17 Reports have begun to swirl in the national press that Bovis Homes investors are looking for the company to merge with a major competitor.

According to reports, Bovis shareholder Schroder Investment Management wrote to Berkeley Group suggesting a £5bn merger but its overtures were rejected.

Bovis parted ways with its chief executive David Ritchie two weeks ago after a profits warning indicating flat profits for 2016 due to a slow-down in December.

Redrow has now been suggested as an alternative potential merger partner for Bovis Homes.

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