Countrywide rejects £82m takeover bid by rival estate agent firm Connells Estate agent chain Countrywide has rejected an £82m offer from rival firm Connells, and announced it has received an improved proposal from private equity investor Alchemy Partners. The company said today that it had considered the 250p per share cash offer from Connells – a subsidiary of Skipton Building Society – but has unanimously rejected [...]
Countrywide executive chairman quits as shareholders reject £90m private equity investment Countrywide exec chairman quits as shareholders reject £90m investment The executive chairman of estate agent chain Countrywide has stepped down after shareholders rejected a £90m cash injection from private equity firm Alchemy. Countrywide announced this morning that Peter Long has left the company with immediate effect, with former William Hill boss Philip Bowdock stepping in as interim chief executive. The London-listed firm said discussions [...]
Estate agent chain Connells confirms £82m Countrywide takeover bid Estate agent chain Connells confirms £82m Countrywide takeover bid Estate agent chain Connells has confirmed an £82m takeover bid for competitor Countrywide, saying a cash injection by private equity rival Alchemy Group would not go far enough to rescue the embattled firm. Connells said this morning that it has completed its due diligence work on Countrywide and reconfirmed its offer price of 250p per [...]
Countrywide in takeover talks with rival estate agent Connells November 9, 2020 Countrywide is in talks with rival estate agency Connells over a potential takeover that would value the company at roughly £82m. The firm today said it had received an initial offer of 250p per share from Connells, well above its closing price of 145p last week. Countrywide said the offer was at an early stage [...]
Countrywide shareholder to oppose £90m lifeline from private equity investor October 22, 2020 Estate agent chain Countrywide (LON: CWD) has secured a £90m lifeline from private equity firm Alchemy in an “urgent” bid to reduce debt, however a significant shareholder is planning to oppose the deal. The firm, which owns Bairstow Eves and Hamptons International, said it is at a “critical inflection point” and is in “urgent need [...]
LSL abandons Countrywide merger amid coronavirus concerns March 16, 2020 LSL Property Services has pulled out of a potential £500m merger with Countrywide, terminating a deal that would have created the UK’s biggest estate agent, amid market uncertainty due to the outbreak of coronavirus. LSL, which owns Your Move and upmarket chain Marsh & Parsons, did not give a reason for its decision this morning, [...]
Countrywide and LSL confirm ‘ongoing’ merger talks February 24, 2020 Estate agent Countrywide has confirmed discussions over a reported £500m merger with rival LSL are “ongoing” after news of the possible tie-up leaked over the weekend. If Countrywide and LSL do tie the knot, they could create the UK’s biggest estate agent company with numerous brands under one umbrella. Countrywide made a brief announcement today [...]
Estate agents Countrywide and LSL ‘plot £500m merger’ February 23, 2020 Countrywide and LSL Property Services are said to be in talks over a £500m merger that would create the largest estate agency group in the UK. The companies, which are two of Britain’s largest listed estate agents, are in discussions over a potential all-share deal, Sky News reported. The negotiations are said to be “serious”, [...]
Countrywide warns of earnings hit as it blames Brexit for sales slowdown April 30, 2019 Embattled estate agent giant Countrywide warned this morning that £5m would be wiped off of the group’s first-half earnings, as it blamed Brexit uncertainty for a slowdown in the UK property market market. Read more: Countrywide losses deepen amid housing market slowdown Countrywide, which owns brands such as Bairstow Eves and Gascoigne Pees, posted a [...]
Countrywide shares tumble as it confirms heavy losses amid housing market slowdown March 7, 2019 Shares in estate agency Countrywide dropped more than eleven per cent today after it confirmed a widening of its full-year losses and warned of a tough year ahead. The figures Full-year revenue fell seven per cent to £627.1m, driven by a pipeline deficit in sales. The firm’s losses widened from £207.3m to £218.2m. Adjusted earnings before [...]