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Evening Standard
Evening Standard
Business
Simon Hunt

Further signs of cooling housing market after Countryside Properties accepts lower Vistry offer

Countryside Vistry Housing Market

Housebuilder Vistry Group has agreed a takeover of rival Countryside Properties in a deal worth around £1.25bn (Rui Vieira/PA)

(Picture: PA Archive)

Housebuilder Countryside Properties performed a remarkable volte-face this morning after agreeing to a takeover offer by rival Vistry in a £1.3 billion deal despite snubbing previous higher offers.

In June, Countryside said it had rejected an unsolicited offer from San Francisco-based Inclusive Capital that valued the firm at £1.5 billion after saying the offer “materially undervalued” the firm.

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