Belvoir Group PLC - Grantham, England-based property franchise and financial services company - Shareholders approve all-share merger with Property Franchise Group PLC, a Bournemouth, England-based lettings and estate agency franchising firm, with about 98% voting in favour. The proposed merger would create a GBP214 million company managing 152,000 properties across the UK. Last week Friday, virtually all Property Franchise shareholders at the company's general meeting also voted in favour of the merger. Belvoir expects the merger to complete on March 7.
Current Belvoir stock price: 275.55 pence, down 0.5% on Thursday afternoon in London
12-month change: up 55%
Current Property Franchise stock price: 353.49 pence, up 1.3%
12-month change: up 23%
By Tom Budszus, Alliance News slot editor
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Propty Franchis (TPFG)