Barratt Developments Acquires Redrow in £2.5 Billion Merger

The deal creates the UK's largest housebuilder, aiming for significant cost savings and increased home delivery amidst job loss concerns.

Barratt Developments has agreed to purchase rival Redrow in a £2.5 billion all-share deal, creating the UK's largest housebuilder named Barratt Redrow.
The merger is expected to deliver annual cost savings of around £90 million but could result in the loss of more than 800 jobs due to overlapping roles and office consolidations.
Barratt's share price fell by 7.2% following the announcement, while Redrow's shares surged by 13%.
The combined entity aims to capitalize on the recovery in the housing market, with plans to deliver more than 22,000 homes each year in the medium term.
The deal, which has been recommended by both companies' boards, awaits approval from shareholders and the financial regulator.