A resounding rejection by Galliford Try to a rival’s £950m bid for its housing business has merely sparked hopes of a bidding war.
Investors immediately bought into talk of fresh buyer interest after Galliford rebuffed Bovis Homes’ formal, all-shares offer for its Linden Homes and regeneration divisions.
The bid was dismissed after several weeks of talks because Galliford said that it “did not believe that the proposal fully reflected the value of the housing business” and was “not in the interests of all shareholders”.
