Troubled house builder Galliford has revealed it rejected two separate buyout approaches from rivals Redrow and Galliford Try. Negotiations with Redrow were terminated because the firm's proposals were "not in the interests of Bovis shareholders", according to the company. However, talks with Bovis Homes Try are ongoing. It said: "The board also concluded that the Redrow proposal was not in the interests of Bovis shareholders as the cash element of the offer would require shareholders to crystallise value at the current Bovis valuation." At Last month , Bovis shares were £ 7 ($ 10.05 ), with the firm valued around £1.1bn. Bovis recently revealed it has set aside £ 8.28 m to compensate customers whose houses were unfinished or had plumbing or electrical defects.
Troubled house builder Galliford has revealed it rejected two separate buyout approaches from rivals Redrow and Galliford Try. Negotiations with Redrow were terminated because the firm's proposals were "not in the interests of Bovis shareholders", according to the company. However, talks with Bovis Homes Try are ongoing. At Last month , Bovis shares were £ 7 ($ 10.05 ), with the firm valued around £1.1bn. Bovis recently revealed it has set aside £ 8.28 m to compensate customers whose houses were unfinished or had plumbing or electrical defects.