Construction and housing firm is understood to be prepared to pay about 拢200m for Linden Homes
Galliford Try, the housebuilder and contractor, today confirmed that it is in exclusive talks to buy Linden.
A short statement to the Stock Exchange said: 鈥淚n response to recent press speculation, the boards of Galliford Try and Linden announce that they are in exclusive discussions with one another which may or may not lead to Galliford Try making an offer to acquire the entire issued share capital of Linden. Any further announcements will be made as appropriate.鈥�
The potential deal is thought to be worth around 拢200m and would be Galliford Try鈥檚 largest ever acquisition.
Linden appointed investment bank NM Rothschild in August to advise on a possible sale. In June it reported a 拢12.8m pre-tax profit on a 拢280m turnover.
The ownership of the firm is split between Philip Davies, the founder and chief executive, Andrew Sells, the chairman, and HBOS, which owns 32%. HBOS backed a management buyout for 拢72.9m in 2000.
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