Bid for house builder Cala?1 Nov 2016 22:33
From closing Market Report
Housebuilders Barratt Developments, Taylor Wimpey and Persimmon were boosted by a report that China's second-biggest property developer is in talks to buy privately-owned UK housebuilder Cala in a deal that could be worth as much as £700m. According to Sky News, Evergrande has been in talks with Cala's shareholders for several months. It was understood the two parties were still some away from a formal deal, but a source told Sky there were "serious and credible". The move by Evergrande comes ahead of a government push to deliver one million new homes by 2020.