Persimmon Considers £1 Billion Takeover Bid for Cala, Sky Says

(Bloomberg) -- Persimmon PLC, one of Britain’s largest homebuilders, is exploring a £1 billion ($1.27 billion) takeover bid for competitor Cala Group Ltd, Sky News reported.

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The FTSE 100-listed company may submit a bid ahead of a deadline next week, according to Sky, which cited sources in the City of London who weren’t identified.

Other bidders may emerge for Cala, which is being auctioned by parent Legal & General, including Taylor Wimpey and Avant Homes, Sky said, citing analysts.

Home construction is expected to figure prominently in the UK general election campaign, with both parties poised to introduce policies to address chronic housing shortages, Sky said.

Persimmon and L&G declined to comment to Sky.

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