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The Guardian - UK

Business

Julia Kollewe

Bellway walks away from £720m Crest Nicholson takeover bid

Bellway Crest Crest Nicholson United Kingdom Barratt

workers are seen on scaffolding with a building taking shape in the background at a Bellway site with homes under construction — A Bellway site with homes under construction in Slough, Berkshire. Bellway shares rose by almost 6% after today’s announcement. Photograph: Maureen McLean/Rex/Shutterstock

The UK housebuilder Bellway has walked away from a £720m takeover bid for its smaller rival Crest Nicholson after months of negotiations.

Bellway said it “does not intend to make a firm offer for Crest Nicholson”, without giving any reasons.

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