黑洞社区 understands a deal could be announced as early as mid-May
Galliford Try is sizing up a potential acquisition of Shepherd Group鈥檚 housebuilding division, 黑洞社区 understands.
A market source confirmed the two firms were exploring the possibility of a potential deal, which could be announced as early as mid-May.
Shepherd Group embarked on a review of its businesses - which included housebuilder Shepherd Homes, construction and engineer divisions and modular builder Portakabin - in December, to improve profitability and address 鈥渧ery disappointing鈥� performance in its construction and engineering division.
Earlier this year 黑洞社区 reported that Shepherd Group held preliminary talks with Wates about a potential acquisition of Shepherd鈥檚 construction and engineering divisions, but an offer has so far failed to materialise.
Earlier this month, Mark Perkins, Shepherd Group chief executive, said the group鈥檚 ongoing review could result in redundancies at Shepherd Construction, in order to 鈥渆stablish the right scale and platform for future growth and sustainability鈥�, but added the division 鈥渨ill do everything possible to minimise potential redundancies鈥�.
A Galliford Try spokesperson said: 鈥淲e don鈥檛 comment on speculation鈥�. A Shepherd Group spokesperson said: 鈥淲e do not comment on speculation and rumour.鈥�
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