Homebuilder Redrow Abandons PE Takeover Talks

Law360, New York (October 18, 2012, 5:02 PM EDT) -- A proposed takeover of British homebuilder Redrow PLC fell through after offer talks between the company and a consortium of private equity firms led by Redrow's chairman dissolved, the parties announced Thursday.

Private equity firms Bridgemere Securities Ltd., Toscafund Asset Management LLP and Penta Capital LLP will no longer make an all-cash offer for Redrow, but reserved the right to make new offers on the company for the next six months, according to a statement issued Thursday.

“Bridgemere, Toscafund and Penta confirm that discussions with Redrow...
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