Slaughter and May is advising Redrow Plc (“Redrow”) on the recommended all-share offer for the combination of Redrow and Barratt Developments plc (“Barratt”) to be effected by means of a court-sanctioned scheme of arrangement (the “Combination”). The Combination is conditional upon regulatory approvals from the CMA, as well as shareholder approvals. Under the terms of the Combination, each Redrow shareholder will be entitled to receive 1.44 new Barratt shares for each Redrow share. On the basis of the closing price per Barratt share of 530 pence on 6 February 2024, the Combination values the entire issued and to be issued share capital of Redrow at approximately £2,524 million on a fully diluted basis. The Combination is expected to complete in the second half of 2024.
Redrow is a leading homebuilder across England and Wales with a reputation for building premium, characterful homes and thriving communities. Headquartered in Wales, Redrow operates in 12 regional divisions across England and Wales, building over 120,000 homes across nearly 50 years in well-chosen locations with excellent place-making.
Slaughter and May has been working closely with Redrow’s Company Secretary, Beth Ford.
Charlotte Lazarowicz / Trainee, Beatrice Kang / Trainee, James Ng / Trainee, Summer Houlder / Trainee