Bellway walks away from Crest Nicholson takeover bid

Bellway has decided not to launch a £720m takeover of Crest Nicholson despite months of negotiations with its smaller rival.
Both sides have been in discussions since May with an opening £650m offer rejected by Crest Nicholson.
But Crest Nicholson directors indicated last month they “were minded to recommend”an improved £720m offer.But Bellway suddenly announced on Tuesday that “it does not intend to make a firm offer for Crest Nicholson.”
The brief Stoc