UK’s Crest Nicholson says Bellway’s revised proposal undervalues group
(Reuters) – British homebuilder Crest Nicholson said on Friday it rejected a 650 million pound ($828.04 million) revised unsolicited proposal from rival Bellway, saying that the deal “significantly undervalued” the group.
Bellway on Thursday made public the revised all-share bid it proposed on May 7 to buy Crest Nicholson, after the initial proposal too was rejected.
($1 = 0.7850 pounds)
(Reporting by Aby Jose Koilparambil in Bengaluru; Editing by Sonia Cheema)
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