The board of Beazer recommended shareholders to accept a £550m bid from Persimmon on Tuesday, ending weeks of battling between four of the UK’s leading housebuilders.
In December Beazer and Bryant Group plc announced their merger and the creation of a new company, Domus plc. This was said to be good news for the timber industry as it was claimed the new company was committed to developing the timber frame house manufacturing process and could build a third Beazer Torwood timber frame factory.
Taylor Woodrow then put in a successful £535m counter bid for Bryant. Days later York-based Persimmon put in a £537m bid for Beazer. The final offer came in at £550m.
Persimmon is a ‘brick and block’ builder. Asked about its plans for Beazer’s Torwood timber frame plants a company spokesperson said: ‘The Scottish Torwood timber frame house manufacturing operation would be a strong addition to the Persimmon Group but no final decision has yet been taken about the individual Torwood operations.’
