Penta Capital in £560m offer for Redrow

The approach is being led by the firm's chairman and founder Steve Morgan, and values the firm at £560m.

Morgan's approach is being backed by the investment vehicle he heads, Bridgemere Securities, Toscafund Asset Management and private equity investor Penta Capital.

The offer of 152 pence per share is now being considered by an independent committee of directors. The offer represents a premium of 23.8% on the firm's average share price over the past 90 days. Shares closed up at 151 pence on Thursday.

• Tweet  
• Facebook  
• LinkedIn  
• Google plus  
• Send to  

• Topics
• UK / Ireland
• Buyouts
• Industrials
• United Kingdom
• Penta Capital Partners