Barratt enters battle to takeover Wilson Bowden according to newspaper report
Barratt is looking to reclaim its positioning as the UK’s number one housebuilder after putting in a offer for Wilson Bowden.
Barratt was one of a number of housebuilders and private equity groups who submitted bids last week, according to a report in the Sunday Times.
The newspaper says Barratt believes that Wilson Bowden will be a perfect fit for its business as both housebuilders have a significant portfolio of mixed-use schemes.
If successful the deal would catapult Barratt in the FTSE100 and give it a market value of more than £5bn. This would push it ahead of rival Persimmon, which has a market value of around £4.5bn.
The move also represents a change in strategy for Barratt, which has not made an acquisition for more than 20 years. The newspaper attributes this change to new chief executive Mark Clare who recently joined from British Gas.