Crest Nicholson is planning to switch sides and recommend an increased indicative offer of £713m from Sir Tom Hunter, the Scottish entrepreneur, after previously opposing a lower-priced proposed takeover.
A firm offer, also backed by HBOS, is subject to detailed discussions and Crest will now open its books for the Castle Bidco consortium led by Sir Tom.
The Takeover Panel said yesterday’s “put up or shut up” deadline had been pushed back until February 28 with the consent of both parties.
Start your free trial today
Your trusted daily source of commercial real estate news and analysis. Register now for unlimited digital access throughout April.
Including:
Schroders Capital has acquired W Edinburgh, a 244-bed luxury hotel, from Nuveen Real Estate for around £100m. W Edinburgh, Marriott International’s first luxury property in the city and the first…
Savills appointed to sell 535-bed Liverpool PBSA
Organisation will be brought into HMRC over the next year
New name will be adopted from June
