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HomeBusinessUS hedge fund circles British housebuilder Countryside 

US hedge fund circles British housebuilder Countryside 


US hedge fund Inclusive Capital Partners circles British housebuilder Countryside

US hedge fund Inclusive Capital Partners is attempting a hostile £1.5bn takeover of Countryside Partnerships

US hedge fund Inclusive Capital Partners is attempting a hostile £1.5bn takeover of Countryside Partnerships

A US hedge fund has stepped up its campaign to take over British housebuilder Countryside Partnerships.

Inclusive Capital Partners is attempting a hostile £1.5billion takeover after being rejected twice by the board. It owns 9.2 per cent of Countryside, and has taken its 295p-per-share offer directly to investors.

It believes Countryside would be better off in private hands, which would facilitate a turnaround.  The biggest shareholder, Browning West, which owns 15.3 per cent, has now written to the board asking it to kick off a sale process.

Yesterday, In-Cap, which manages billions of dollars worth of assets, said it supported such a move. 

Its founders say their passion is the ‘pursuit of a healthy planet and the health of its inhabitants’.

Countryside stock is up since In-Cap’s interest began, and rose 2.3 per cent, or 6.6p, to 289.4p but is down 42 per cent in the past year.

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