UK's Bellway cancels takeover proposal for Crest Nicholson

14 Aug 2024 CW Team

British homebuilder Bellway has withdrawn its $921 million takeover proposal for FTSE midcap peer Crest Nicholson without providing an explanation. Following the announcement on Tuesday, Bellway's shares rose by about 4%, while Crest's stock, which had gained 15% since the approach was revealed in June, dropped by approximately 9%.

Bellway stated that it remains confident in its robust balance sheet, operational strength, and the quality of its land bank, which it believes will support volume growth in the coming years.

In a separate statement, Crest Nicholson expressed confidence in its standalone prospects. Last month, Crest indicated it might recommend a firm offer to its shareholders after Bellway had sweetened its proposal. The most recent proposal, made in July at 273 pence per share, was Bellway's third offer in four months. The previous offer at 253 pence per share, along with the initial bid, had been rejected by Crest.

The consolidation in Britain's homebuilding sector continues as a shortage of properties drives up prices and rents, leading the new Labour government to promise eased planning restrictions and increased building. In February, Barratt, Britain's largest homebuilder, agreed to acquire Redrow in an all-stock deal, while Vistry purchased Countryside in 2022. Last week, Bellway joined larger rivals Persimmon and Taylor Wimpey in expressing optimism about the sector's outlook after the Bank of England lowered its main interest rate.

Real Estate

23 Sep 2025

Hyderabad Financial District Evolves into a City Within a City

The Financial District in Hyderabad is rapidly transforming into more than just a business hub—it is evolving into a “city within a city,” a compact ecosystem where work, home, education, healthcare, and lifestyle coexist seamlessly. This vision was reinforced at a press conference hosted by ASBL, where data and insights highlighted why the Financial District has become one of India’s most resilient and future-ready real estate markets. Over the past four years, rental appreciation has consistently outpaced the city average, underlining genuine demand. In FY 2024–25 alone, 3BHK ..

TOTO Expands Bathroom Portfolio in India

TOTO India has expanded its product portfolio with the launch of season-inspired basins, premium faucets, and a new water-efficient WC range. The new additions reflect the brand’s philosophy of combining Japanese craftsmanship, technology, and design with sustainable living. The season-themed basins, enhanced with TOTO’s CEFIONTECT glaze, are offered in four shades—Forest Green, Mandarin Orange, Scarlet Red, and Ash Blue—each inspired by a season. Complementing these are faucets in Rose Gold and Graphite finishes, crafted with PVD technology for durability and manufactured using p..

India Sees 1 per cent Drop in Power Sector CO₂ Emissions

India’s carbon dioxide emissions from the power sector fell by 1 per cent year-on-year in the first half of 2025, marking only the second decline in nearly 50 years, according to a research report. The reduction was largely driven by record clean-energy capacity additions and lower electricity demand due to unusually mild weather, the analysis by the Centre for Research on Energy and Clean Air (CREA) for Carbon Brief found.The Helsinki-based think tank attributed 65 per cent of the decline in fossil-fuel generation to slower demand growth, 20 per cent to faster expansion of clean energy, and..