Statement re Possible Offer
Bellway confirms it will not make a firm offer for Crest Nicholson under Takeover Code Rule 2.8.
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The Board of Crest Nicholson Holdings plc ("Crest Nicholson") notes the recent announcement by Bellway p.l.c. ("Bellway") confirming that it does not intend to make a firm offer for Crest Nicholson under Rule 2.8 of the Takeover Code.
As previously announced, the Board of Crest Nicholson had engaged with Bellway in relation to a possible all-share offer for Crest Nicholson in response to a series of unsolicited proposals from Bellway.
As outlined in its half year results on 13 June 2024 for the period ended 30 April 2024, Crest Nicholson remains confident in its standalone prospects, in particular given conclusion of the review of provisions for completed development sites supported by external consultants, its highly attractive land portfolio and the new leadership of Martyn Clark.
This announcement has been made without the consent of Bellway.
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