Redrow Founder Morgan Plans to Take Builder Private, Mail Says

Redrow Plc (RDW) founder Steve Morgan is drawing up plans to take the housebuilder private for more than 400 million pounds ($618 million), the Mail on Sunday reported, citing a person familiar with the matter.

Morgan, also the chairman of the company, has held talks with Toscafund Asset Management, Redrow’s second-largest shareholder behind Morgan with an 11 percent stake, the newspaper said. Toscafund backs the proposal, the Mail said.

To contact the reporter on this story: Tim Barwell in London on tbarwell@bloomberg.net

To contact the editor responsible for this story: James Ludden at jludden@bloomberg.net

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