Westbury and Persimmon shuffling their packs

April 25, 2005
Westbury chief executive Martin Donohue is expected to stand down this week after 33 years at the group. Donohue has been chief executive of the housebuilder for a decade. He will be replaced by Nigel Fee, currently managing director of the homes division. This follows the announcement last week that Persimmon chairman Duncan Davidson is to retire next year from the company he founded three decades ago. Some analysts believe Persimmon is looking to add to its portfolio with Westbury a potential target. Taylor Woodrow may also be on Persimmon’s shopping list though market watchers say the only real attraction would be Taylor's U.S. businesses, which might not fit with Persimmon's profile. Brokers Goy Harris Cartwright, said Redrow might prove an attractive bid candidate. There is also speculation that a housebuilder may be ready to launch a bid for UK Coal because of its extensive land bank.

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