Crest Nicholson set to accept revised Bellway bid

Crest Nicholson directors said they are“minded to recommend” an improved bid for the house builder by rival Bellway.
Both firms confirmed today that a revised offer had been made after two previous bids topping out at £650m were rejected.
Crest Nicholson has also been approached by Avant Homes but rejected the deal while talks with Bellway continued.The latest all-share offer would see Crest Nicholson’s shareholders hold an 18% stake in the enlarged group.
A shared stock