Two of the leading names in large-scale UK timber frame construction are in merger talks.
Persimmon says that it is now at an advanced stage of negotiations to buy Westbury. According to press reports, its bid is worth around 560 pence per share, valuing Westbury at £638m.
If the deal is agreed, it would make the new joint business the country’s biggest volume housebuilder, with annual output approaching 17,000 units compared to Barratt’s 14,351.
Both businesses are exponents of timber frame, with Westbury operating its own timber frame unit manufacturing operation Space 4.
Westbury has been a rumoured takeover target since it reported a 26% fall in interim profits to £45.5m.
