Bovis Homes and Galliford Try have ended talks on a takeover, with Galliford saying it had become apparent it would not be able to secure the support of the Bovis board.
Bovis said it was rejecting Galliford’s bid and also announced it was appointing Greg Fitzgerald, the former head of Galliford, as its new chief executive. Fitzgerald, who was at Galliford for 30 years, replaces David Ritchie, who resigned as chief executive of Bovis following a surprise profit warning at the end of last year.
Fitzgerald said Bovis had a great brand, excellent people and a high-quality land bank. The housebuilder said it was making good progress on the customer service issues it faced at the beginning of the year.
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