The shareholders of house builders Barratt and Redrow have approved the businesses’ proposed merger.
In the more than £2.5bn deal, Redrow shareholders will hold approximately 32.8 per cent of the combined group and Barratt shareholders will hold approximately 67.2 per cent of the combined group.
The merger is subject to clearance by the Competition and Markets Authority, which has launched a preliminary investigation into whether the deal would result in a substantial lessening of competition.
Leicestershire-based Barratt and Flintshire-based Redrow generated aggregate revenue of £7.4bn in FY 2023, delivering total completions of 22,642.
The combined group would be renamed Barratt Redrow plc.
