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Countrywide accepts Connells' sweetened takeover offer of 395p a share
StockMarketWire.com
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Homebuilder Countrywide accepted an improved 395 pence a share takeover offer from Connells.
The acquisition, to be implemented by way of a court-sanctioned scheme of arrangement between Countrywide and the Countrywide shareholders, was expected to complete in the first quarter of 2021.
Connells upped its offer price to 395 pence a share from 325 pence.
'This significantly improved offer from Connells allows Countrywide shareholders to realise their investment in cash at a price that fairly values the opportunities and risks of the business,' Countrywide.
Connells had received written confirmations of support for the acquisition from Countrywide shareholders representing approximately 51.03% of the existing issued ordinary share capital of Countrywide as at 30 December 2020.
Story provided by StockMarketWire.com
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