Institutional stockbroker Panmure Gordon says it is likely that housebuilder Persimmon will acquire its smaller rival.
Housebuilder Persimmon has been unmasked as the mystery bidder for smaller rival Westbury.
Institutional stockbroker Panmure Gordon said it is likely that Persimmon will acquire Westbury, and in response Panmure increased its recommendation on Persimmon to ‘buy’ from ‘hold’ and increased the share price target to 1070p from 800p.
In the past Persimmon has twice doubled its size through acquisition and has not made a secret of its desire to make further deals.
