CBRE Announces Recommended Offer for Telford Homes
07.03.19
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Simpson Thacher is representing CBRE Group Inc. (“CBRE”) in connection with its recommended offer for the entire issued and to be issued share capital of Telford Homes Plc (“Telford Homes”), which was announced on July 3, 2019, at 350 pence (US$4.41) per share. Telford Homes is admitted to trading on AIM, a market of the London Stock Exchange, and is one of London’s largest residential developers. Telford Homes has a development in-process portfolio (total project cost) of £1.32 billion (US$1.66 billion).
The offer values Telford Homes’ entire share capital at approximately £267.4 million (US$336.9 million). The acquisition is expected to be completed by way of a scheme of arrangement, subject to Telford Homes shareholder approval and the receipt of regulatory clearance.
The Simpson Thacher team includes Clare Gaskell, Ben Squires, Marie-Eve Nault-Cloutier and Vishaal Patel (Corporate – London); Harriet Bamford (Credit – London); Brian Steinhardt, Eli Isak and Sheena Shah (Credit – New York); and David Vann, Etienne Renaudeau, Megan Griffith and Alexia Syrmos (Antitrust).