Crest Nicholson rejects £650m Bellway bid

Crest Nicholson has rejected a £650m takeover offer from rival Bellway.
Bellway confirmed on Thursday that it made a move last month.
It said: “The Board of Bellway believes that there is compelling strategic and financial rationale for a combination of Bellway and Crest Nicholson which would bring together the strength of each business with complementary brands to reinforce Bellway’s position as a leading UK housebuilder, while enabling Crest Nicholson shareholders to benefit