Galliford Try's offer for Linden Homes now unconditional

Galliford Try’s takeover of Linden Homes is on track. The offer has now become unconditional as a result of Galliford receiving acceptances from 89% Linden shareholders.

The offer was posted to shareholders on 8 February and the first offer period is set to close at 3pm on 8 March.

The deal will cost Galliford £245m as it will spend £110m acquiring Linden’s shares and a further £135m to assure Linden’s debts.

Galliford has catapulted itself up both the construction and housebuilding leagues as a result of recent acquisitions, the most notable being Morrison Construction and Chartdale Homes.

To help fund the latest deal, Galliford will issue new shares to the value of £140m.