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UK house builders announce takeover
Persimmon, the UK's largest housebuilder, has announced a £643m takeover bid for rival firm Westbury (based in Cheltenham).
The offer has been recommended by Westbury's board of directors but must be approved by the shareholders of both companies.
Westbury, based in Cheltenham, has 1,500 employees but the deal is expected to mean the closure of Westbury's Cheltenham headquarters costing about 100 jobs.
: 24/11/2005 14:30:41
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