Countrywide PLC - estate agent - Alchemy Partners currently holds letter of intent from Brandes International Partners LP in respect of around 2 million Countrywide shares, representing approximately 6.1% stake. Last week, Countrywide agreed to be taken over by peer Connells Ltd in a deal which values the UK estate agency at GBP223.1 million.
Connells said it has received written confirmations of support for the acquisition from Countrywide shareholders in respect of 16.8 million shares, representing 51% of Countrywide's equity.
Current stock price: 390.60 pence
Year-to-date change: down 0.1%
By Arvind Bhunjun; arvindbhunjun@alliancenews.com
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