Barratt's £2.5bn Acquisition of Redrow Approved by UK Regulator
The Competition and Markets Authority accepted measures to address competition concerns, paving the way for the merger.
- Barratt and Redrow's merger will form Barratt Redrow, aiming to build 23,000 homes annually with a turnover of over £7bn.
- The Competition and Markets Authority's concerns over competition in Whitchurch, Shropshire, were addressed through specific undertakings.
- An independent third-party agent, Savills, will manage the sales of unsold houses at Redrow’s Nantwich development.
- The merger is expected to yield annual cost savings of £90 million, with potential job losses of around 10% due to restructuring.
- Full integration of Barratt and Redrow is anticipated within 18 months, focusing on efficient business operations and long-term value creation.
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