Two of Britain’s biggest estate agent groups are in talks over a possible £460 million (US$594.1 million) merger, reported The BBC.
The boards of Countrywide, which owns the Hamptons International and Bairstow Eves brands, and LSL Property Services, parent company of Your Move and Marsh & Parsons, have begun discussions over a possible all-share deal.
The talks are thought to be in the early stages, although an announcement is expected as soon as this morning confirming that the two parties are exploring a tie-up. The potential combination, first reported by Sky News, would create the UK’s biggest estate agency group, employing 14,000 people in 1,000 outlets.
If the merger talks lead to a deal, it will create a combined group worth about £470m with 14,000 employees.
Countrywide reported losses of £218 million (US$281.6 million) for 2018, compared with a £207 million (US$267.4 million) loss a year earlier, and it stated last year that the uncertainty surrounding Brexit had been hitting business.
Full Content: BBC
Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.
Featured News
Walmex Awaits Antitrust Ruling as Mexican Regulator Probes Alleged Practices
Oct 8, 2024 by
CPI
Crypto.com Sues SEC, Alleging Regulatory Overreach in Crypto Industry
Oct 8, 2024 by
CPI
Elite US Universities Face New Antitrust Suit Over Financial Aid Practices
Oct 8, 2024 by
CPI
Kirkland & Ellis Strengthens Antitrust Practice with New Partner from FTC
Oct 8, 2024 by
CPI
TikTok Hit with Lawsuits from 13 US States and DC
Oct 8, 2024 by
CPI
Antitrust Mix by CPI
Antitrust Chronicle® – Refusal to Deal
Sep 27, 2024 by
CPI
Antitrust’s Refusal-to-Deal Doctrine: The Emperor Has No Clothes
Sep 27, 2024 by
Erik Hovenkamp
Why All Antitrust Claims are Refusal to Deal Claims and What that Means for Policy
Sep 27, 2024 by
Ramsi Woodcock
The Aspen Misadventure
Sep 27, 2024 by
Roger Blair & Holly P. Stidham
Refusal to Deal in Antitrust Law: Evolving Jurisprudence and Business Justifications in the Align Technology Case
Sep 27, 2024 by
Timothy Hsieh