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Takeover Creates Britain's Biggest Housing Supplier

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£640m secures win-win housebuilding deal

· Analysts hail Persimmon's agreed bid for Westbury

· Takeover creates Britain's biggest housing supplier

Ian Griffiths

Friday November 25, 2005

The Guardian

Persimmon is buying its rival Westbury in a £643m agreed deal that will create Britain's biggest homebuilder.

The 560p-a-share takeover, plus Westbury's 6.1525p dividend, were immediately heralded as a good deal for both sides by Rachel Waring at Numis Securities.

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Micky Clark(e)? on radio this morning - he seemed to doubt that economies of scale would really help profits and suggested that the deal was expensive.

Nothing like takeovers to raise shares in a sector and that it has done - a lot seemed to have broken out to the upside recently.

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