Bellway: No Firm Offer For Crest Nicholson - Quick Facts

(RTTNews) - Bellway (BWY.L) confirmed that it does not intend to make a firm offer for Crest Nicholson Holdings plc. The Group noted that this is a statement to which Rule 2.8 of the Code applies.

Crest Nicholson stated that it remains confident in standalone prospects, in particular given conclusion of the review of provisions for completed development sites supported by external consultants, its highly attractive land portfolio and the new leadership of Martyn Clark. Crest Nicholson noted that its Board had engaged with Bellway in relation to a possible all-share offer for Crest Nicholson in response to a series of unsolicited proposals from Bellway.