Thursday 21 June 2018 | ShareProphets: The one stop source for breaking news, expert analysis, and podcasts on fast-moving AIM and LSE listed shares
Hello Share Swiggers. Not long to go before we find out who’s going to boss us about for the next five years. But whichever party wins, they have promised to increase housing stock.
The last time there was a mega merger in the housebuilding sector was 2007. Can you remember what happened next? Exactly. And thus today Bovis (BVS) announced that it had received bid approaches from both Redrow (RDW) and Galiford Try (GFRD). It has rejected both.
January was a good month for FTSE 250 listed housebuilder Bovis (BVS) – an upbeat trading statement on the 18th was followed by news on the 30th that it had extended its £150 million debt facility for three more years. Not that it needs to borrow as it has net cash. However the shares have enjoyed a terrific run, from 400p last June to 674.5p, which values the firm at £897 million and the good news is more than discounted.
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