Proposed Merger Of Taylor Woodrow And George Wimpey

Interesting Mr Bond .. I wonder what will happen with the construction business, as Wimpey is mainly Homes now after it sold it’s consutction business to Tarmac and then Carillion … Humm Oh you might be asking why have I published this .. well a long time ago I used to work for Wimpey Construction!


Source: http://www.taylorwoodrow.com/presscontent.asp?ArtID=213

Date: 26 March 2007: The Boards of Taylor Woodrow plc (“Taylor Woodrow”) and George Wimpey Plc (“George Wimpey”) are pleased to announce today that they have reached agreement on the terms of a recommended all-share merger (the “Merger”) to create Taylor Wimpey plc (“Taylor Wimpey”). Taylor Wimpey will be the UK’s largest housebuilding group with combined pro forma annual revenues of over £6.7 billion, total UK house completions of approximately 22,000 per annum, total North American house completions of approximately 9,000 per annum and a combined market capitalisation of approximately £5 billion.

Summary

The Merger will enhance shareholder value by creating a business with a strong strategic position in both the UK and the chosen markets in North America. The Combined Group has a pro forma landbank of over 92,000 plots in the UK and will be strengthened in the US through the combination of operations across some of the most attractive US markets. In addition, shareholders of the Combined Group will also benefit from enhanced profitability through the delivery of significant cost savings.

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