Countryside to listen to offers following shareholder pressure

By Carl Brown2022-06-13T08:26:00

Housebuilder now actively seeking bids with US investor in driving seat

Countryside has said it will actively look at takeover bids, after its board bowed to pressure from key shareholders to put the business up for sale.

The £600m-turnover housebuilder announced last month it had rebuffed two ‘unsolicited’ approaches from San Francisco-based ESG investor Inclusive Capital, who wanted to discuss a possible £1.5bn offer to take the firm private. This was rebuffed by Countryside’s board, who said the business was worth more, leading to key shareholder Browning West calling on the firm to start a sale process.

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