Shares in Countryside Partnerships were among the best performers in the FTSE 350 today, buoyed by news of a planned £1.25bn takeover by housebuilder Vistry.
Vistry’s cash and share deal values Countryside’s shares at 249p each, a premium of 9.1% to their closing price on Friday. Its shares rose by 5.2% in trading to 240p.
Vistry chief executive Greg Fitzgerald said the deal will “create a leader in the partnerships housing sector, with the scale and expertise to accelerate profitable growth across both partnerships and housebuilding and expand the delivery of much-needed affordable housing across England”.
The FTSE 100 edged up by just six points at 7,287. The FTSE 250 posted a 1.2% fall at 8,629.
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