UK estate agent Connells secures rival Countrywide for £223M
February 17, 2021
Shareholders of UK estate agents group Countrywide have voted in favor of a takeover offer from rival Connells valuing the company at £223.1 million. The buyer offered to pay 395 pence per share, a 58% premium on its initial proposal, beating a rival bid from PE firm Alchemy Partners, which had offered to buy the business in December. Countrywide, which went public in 2013, owns a portfolio of over 60 estate agent brands and offers several additional services including finance and property management.