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Redrow Founder Morgan Plans to Take Builder Private, Mail Says

Sept. 25 (Bloomberg) -- Redrow Plc 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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