A £2.5bn merger of two housebuilding firms has been approved, after they allayed fears about the price of new homes in Shropshire and Cheshire.
The companies each have a large development in one of the towns, and have now agreed that remaining homes will be sold by an independent agent.was announced in AugustThe CMA had said there were no concerns about a monopoly nationally, but feared the deal could lead to higher prices and lower-quality homes for buyers in an area around Whitchurch, including Nantwich, Ellesmere and Market Drayton.
A CMA-approved monitor will also oversee undertakings to maintain Redrow's build quality and service, on the Kingsbourne site in Nantwich.that measures put forward by the companies represented "as comprehensive a solution as is reasonable and practicable".The firms expect to fully merge operations within 18 months, with efficiencies and cost savings due after three years.