Redrow takeover talks end

Redrow Chairman Steve Morgan last night ditched his plan to buy the housebuilder he founded in 1974, bringing seven weeks of takeover talks to an end after falling foul of Takeover Panel regulations.

Redrow Chairman Steve Morgan last night ditched his plan to buy the housebuilder he founded in 1974, bringing seven weeks of takeover talks to an end after falling foul of Takeover Panel regulations.

The 59-year-old entrepreneur, who left the Flintshire-based company in 2000 but returned as Executive Chairman in a boardroom coup nine years later, proposed a 152p-a-share-offer at the end of August worth £560m.

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