# UK’s Crest Nicholson says Bellway’s revised proposal undervalues group
Author: Pal sinha, Barnali
Author URL: https://startupobserver.com/author/pal-sinha-barnali/
Published: 2024-06-14
Category: Headlines
Category URL: https://startupobserver.com/category/headlines/
Meta Title: Crest Nicholson Rejects Bellway's Undervalued Proposal
Meta Description: Learn why British homebuilder Crest Nicholson turned down a 650 million pound offer from Bellway, stating it undervalues the company.
URL: https://startupobserver.com/uks-crest-nicholson-says-bellways-revised-proposal-undervalues-group/

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(Reuters) – British homebuilder Crest Nicholson said on Friday it rejected a 650 million pound ($828.04 million) revised unsolicited proposal from rival Bellway, saying that the deal “significantly undervalued” the group.

Bellway on Thursday made public the revised all-share bid it proposed on May 7 to buy Crest Nicholson, after the initial proposal too was rejected.

($1 = 0.7850 pounds)

(Reporting by Aby Jose Koilparambil in Bengaluru; Editing by Sonia Cheema)


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