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| Deal will make Taylor Wimpey largest housebuilder in Britain  Taylor Woodrow and George Wimpey announced that they have reached agreement on the terms of a recommended all-share merger to create Taylor Wimpey. It will be the UK's largest housebuilding group with combined pro forma annual revenues of over £6.7 billion, total UK house completions of approximately 22,000 per annum, total North American house completions of approximately 9,000 per annum and a combined market capitalisation of approximately £5 billion. The combined group has a pro forma landbank of over 92,000 plots in the UK and will be strengthened in the US through the combination of operations across some of the most attractive US markets.Both housebuilders have agreed a unified management team under the leadership of Wimpey's chief executive Peter Redfern. The board will be chaired by Taylor Woodrow's chairman Norman Askew with equal non-executive director representation from Taylor Woodrow and George Wimpey. The merger is expected to complete in the summer of 2007. write your comments about the article :: © 2007 Construction News :: home page |