Bellway Withdraws £720m Takeover Bid for Crest Nicholson
Housebuilder Bellway ends acquisition talks, citing confidence in its independent growth strategy.
- Bellway had proposed a £720m bid after two earlier offers were rejected.
- Crest Nicholson had indicated willingness to accept the latest offer.
- Bellway's decision led to a 4% rise in its shares, while Crest Nicholson's shares fell by 17%.
- Both companies expressed confidence in their standalone prospects and future growth.
- The decision follows Bellway's recent financial update showing resilience despite market challenges.
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