Galliford Try has confirmed that it was no longer considering a combination with Bovis. It said that since it made an approach on 12 March, the leadership teams of Galliford Try and Bovis had held discussions which had been largely constructive.
But it said it had become clear it was not possible to secure the support of the board of Bovis on terms that represented the best interests of Galliford Try shareholders.
A statement said: “The board believes that Galliford Try has a strong future based on its current business model. Galliford Try will continue to focus on delivering the five-year organic growth strategy set out at its capital markets day event on 21 February.”
At 8:05am: (LON:GFRD) Galliford Try PLC share price was +23p at 1485p
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