Bovis Homes is in talks with Galliford Try about a potential £2.5bn merger that would be the first major deal within the sector since the global financial crisis.
The housebuilder confirmed at the weekend that it had been approached by both Redrow and Galliford Try, but rejected both offers as they did not reflect the underlying value of the business.
Discussions with Redrow were terminated after it indicated it would not improve its initial offer, but talks with Galliford Try are ongoing, Bovis said.
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