This represents a premium of 22.9% to the average Wilson Connolly share price over the past three months. The offer has already been accepted by the Wilson family and the Wilson Connolly directors, speaking for 25.8% of the share capital.
Taylor Woodrow claims the Wilson Connolly business has an excellent geographic fit with Taylor Woodrow's UK housebuilding business. Following the acquisition, each of Taylor Woodrow's existing 10 regions will be operating at approximately 1,000 completions per annum, and the enlarged group will have a combined landbank of 37,082 plots with planning consent, equivalent to 3.6 years supply
In the six months ended June 30, 2003, Taylor Woodrow s generated an operating profit up 15% at £140.7 million ($219 million) on turnover up 7% at £1.057 billion ($1.65 billion).
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