Vistry/Countryside merger completion expected in Nov

Oct. 10, 2022
<p>Vistry has said that its acquisition of Countryside is expected to complete on November 11, according to a circular and prospectus it has published.</p> <p>Following the housebuilder’s announcement on September 5 <a href="http://www.house-builder.co.uk/news/vistry-buy-countryside">of its intention to purchase Countryside for a cash and share offer of £1.25 billion</a>, it has released an expected timetable for the merger.</p> <p>This states that “subject to the approval of Vistry shareholders and Countryside shareholders, as well as the satisfaction or waiver of the other conditions set out in the scheme document and the approval of the court, the scheme is expected to become effective on or around 11 November 2022”. </p> <p>It is then anticipated that by November 14, Vistry’s new shares will start trading on the London Stock exchange.</p> <p>In its statement last month, Vistry said that combining the two firms “would create one of the country's leading homebuilders, comprising a top tier housebuilder and a leading partnerships business, with capability across all housing tenures, and delivering much needed affordable housing.”</p> <p>Within the circular and prospectus, the firm also published a current trading and outlook note. As of October 7, it continued to expect adjusted pre-tax profit for its full year to December 31 …

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