LONDON (Thomson Financial) - Construction firm Bellway PLC has approached
rival Redrow with plans for a 1.3 billion pound merger that would create the
U.K.'s second-biggest housebuilder, the Mail on Sunday reported without citing
sources.
The paper said the approach, prompted by the effects of the credit crunch on
the housebuilding industry, is the second that Bellway has launched for its
smaller rival.
Neither company could immediately be reached for comment.
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