Around 10% of jobs across the combined companies are expected to be lost as a result of the deal, helping bosses save at least £90m a year.
A planned £2.5bn merger between British housebuilders Barratt Developments and Redrow Plc looks set to go ahead despite concerns from the competition regulator. It comes after Barratt announced on Monday it planned to push ahead and start the process of taking over its rival this week, even though the two firms will officially remain separate until the watchdog gives its final approval.
The housebuilder said it expected the CMA to impose an enforcement order on both firms in response, which would prevent Barratt and Redrow from integrating their two businesses until the regulator was satisfied its concerns had been addressed. Read more from business:Ted Baker shops shut for good amidLabour call for talks ahead of fresh train strikesEuro 2024 helps boost retail sales The companies expect to have fully merged within 18 months of the acquisition.
Philippines Latest News, Philippines Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Barratt ‘must address local competition concerns’ before £2.5bn Redrow buyout in ShropshireThe Competition and Markets Authority has found that housebuilder Barratt Homes’ £2.5 billion buyout of Redrow raises local competition concerns in Whitchurch, Shropshire, where it said the two companies hold a high share of the land.
Read more »
Barratt Homes supports maintenance of Whitchurch’s Waterways with donationBarratt Homes has contributed £1,500 to the Whitchurch Waterway Trust, as part of its Community Fund scheme.
Read more »
Leyland photographers snap capturing Worden Park wins competitionCompetition winner Lauren Hall (Left) with Julie Parry (Barratt Homes Sales Adviser) Pic: Barratt and David Wilson Homes Ahead of World Photography Day
Read more »
Spain’s Iberdrola buys UK’s Electricity North West for €5bnBritain becomes largest market for Madrid-based group, which already owns Scottish Power
Read more »
Disney plans to spend $5bn in regions including the UK after Deadpool & Wolverine successThe entertainment giant will use the cash to make new blockbuster films and TV shows, including for its Disney+ streaming platform. It comes after the company announced it had returned to profit.
Read more »
Disney to spend $5bn in Europe on making new blockbustersRegional chief says UK and continental Europe will play a big role in future box office and streaming hits
Read more »