UK-based real estate investor and developer Regis Group has said it is not going to pursue a takeover of Grainger, the largest listed residential property company in the UK, citing ongoing uncertainty on housing prices and the economic environment.
UK-based real estate investor and developer Regis Group has said it is not going to pursue a takeover of Grainger, the largest listed residential property company in the UK, citing ongoing uncertainty on housing prices and the economic environment.
Regis said in a statement that it had 'no present intention' of making an offer for Grainger, although it reserved the right to do so should there be a significant change in circumstances.
Early last month Regis had been given an 19 August deadline by the country's takeover panel to make a bid for Grainger. Grainger's board of directors welcomed the announcement from Regis, saying that it was 'pleased that the uncertainty of being in an offer period has been lifted'.
Grainger owns over 14,000 residential properties in the UK and a further 4,500 in Germany.
