U.K. home builders Countryside Partnerships PLC and Vistry Group PLC are nearing a deal to merge and form a $3.2 billion residential developer, according to people familiar with the matter, representing a win for U.S.-based activist investor Browning West LP.
The deal, in which Vistry is expected to pay mostly stock for its counterpart, could be announced as soon as this coming week, the people said. A possibility remains, however, that the talks break down before terms are finalized.
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