Barratt Developments has unveiled a significant £2.5 billion acquisition deal to merge with its competitor, Redrow. The financial arrangement offers Redrow investors a premium of 27.2%, with the valuation derived from Redrow’s closing share price on February 6th, 2024.

As part of the agreement, Redrow shareholders will possess up to a third of the rebranded entity, now named Barratt Redrow.