There has been a lot of speculation about consolidation amongst
the builders and the first real signs are showing. CRY has an unknown
potential buyer and the price has gone up big time today as a result
although it was moving for a few days beforehand as well.

So who might be next?
and who might the bidder be - another builder or a private equity
firm or a real estate type company?

Westbury and Bovis have been tipped as potential targets. With bigger house builders being the likely predators as they seek to secure a larger land bank.

Yes I heard that too, but CRY is a much smaller builder, only
FTSE fledgling catagory, with mainly low cost, affordable housing
as it's mainstay and brown-field development.
We will have to watch Westbury and Bovis carefully!

Update

Broker on Working Lunch today said the rumour - although nothing
is confirmed - is that Persimmon are the unknown potential buyers
of CRY. CRY has issued a statement saying IF a bid comes about
a figure of about 300p a share would be likely and if that was the
case they would recommend it.