CBRE’s offer values the entire issued and to be issued ordinary share capital of Telford Homes at approximately £267.4 million on a fully diluted basis. 

The Reed Smith team advising on the matter was led by co-chair of Reed Smith’s Global Corporate Group Delphine Currie, supported by Competition Partner Marjorie Holmes and Tax Partner Gareth Amdor, associates Jonathan Webber, Nicola Delaney, Laura Gould, Alia Khalil and trainees Emily Sharman, Mira Dandan and Lloyd Scragg. Labor and Employment partner David Ashmore is also advising on the employment aspects of the transaction.

Currie commented: “Having worked with Telford Homes since the company’s formation and admission to AIM in 2001, I am delighted to be working with them on this significant transaction, which showcases the strength and depth of our corporate expertise.”

The deal is subject to EU competition clearance, shareholder approval and court approval of the scheme of arrangement.