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On 31 December 2020, the boards of Connells and Countrywide announced that they had reached agreement on the terms of a recommended cash offer by Connells for Countrywide (the Recommended Offer Announcement ), pursuant to which Connells will acquire all of the issued and to be issued share capital of Countrywide (the Acquisition ). Today, Connells is pleased to announce that it has acquired the entire shareholding of 1,919,995 Countrywide Shares held by Schroder Investment Management Limited ( Schroder ), representing approximately 5.85 per cent. of the existing issued ordinary share capital of Countrywide as at 6 January 2021, being the last Business Day prior to the date of this announcement. ....
Countrywide accepts £134m takeover from rival Connells Shareholders had rejected an offer for the company from Alchemy earlier this year 1 January 2021 • 10:43am Connells has sealed a £134m takeover of rival estate agent Countrywide after battling over the business with the private equity firm Alchemy Partners for months. The cash offer, which will give Connells high street brands such as Hamptons and Bairstow Eves, has been accepted by 51pc of Countrywide’s shareholders and is expected to formally complete by the end of March. Connells initially bid 250p a share in November, breaking up a deal between Alchemy and Countrywide that would have seen the private equity firm take a majority stake and pump £90m into the debt-laden business. ....
Updated: December 31, 2020, 9:51 am Troubled estate agency Countrywide has agreed to a takeover by rival Connells (Victoria Jones/PA) Sign up for our daily newsletter featuring the top stories from The Press and Journal. Thank you for signing up to The Press and Journal newsletter. Something went wrong - please try again later. Sign Up Troubled estate agency Countrywide has agreed to a takeover by rival Connells in a deal valuing the group at more than £134 million. It comes after Connells increased its offer to 395p a share, following a 325p bid made on December 7 and a previous 250p-a-share approach. The recommended bid values debt-laden Countrywide at about £134.4 million, or about £223.1 million including debts. ....
Indebted property company Countrywide has agreed to a takeover offer by Connells after the group raised its asking price for the second time early this month. Countrywide investors will receive £3.95 in cash for every share they own, which is a premium of 22 per cent on Connells previous proposition on December 7 of 325p per share and is 145p - or 58 per cent - higher than its original offer made in early November. Shares in the Hamptons International owner soared 12.8 per cent today after it announced the deal with the Leighton Buzzard-based Connells, which is a subsidiary of Skipton Building Society. Shares in Countrywide soared 12.8 per cent today after it announced it would be acquired by Connells, which is a subsidiary of Skipton Building Society ....
Connells upped its offer to 395p a share (Image: SCU) Want Stoke-on-Trent news emailed to you direct from our journalists? Sign up to our newsletterInvalid EmailSomething went wrong, please try again later. Subscribe When you subscribe we will use the information you provide to send you these newsletters. Sometimes they’ll include recommendations for other related newsletters or services we offer. OurPrivacy Noticeexplains more about how we use your data, and your rights. You can unsubscribe at any time. Thank you for subscribingWe have more newslettersShow meSee ourprivacy notice Troubled estate agency Countrywide has agreed to a takeover by rival Connells in a deal valuing the group at more than £134million. ....