City Of London
Vistry to Buy Countryside in £1.25 Billion Deal
- Countryside put itself on sale in June after activist pressure
- Activist Browning West has been calling for a breakup
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The rapidly cooling UK housing market has caught up with Countryside Partnerships Plc after the company agreed to sell itself at a price that’s lower than earlier offers.
Vistry Group Plc has agreed to buy Countryside in a deal that values the embattled UK homebuilder at about £1.25 billion ($1.4 billion). The cash-and-share deal has been recommended by the boards of both companies, according to a statement Monday. Vistry fell and Countryside rose in early London trading.