UK Home Builders Countryside Partnerships, Vistry in $3.2bn merger talks

UK home builders Rural partnerships APIs and vistry Group PLC is set to strike a deal to merge and form a $3.2 billion residential developer, according to people familiar with the matter, in a victory for US activist investor Browning West LP.

The deal, in which Vistry is expected to pay primarily for shares for its counterpart, could be announced as early as next week, the sources said. A possibility remains, however, that talks could break down before terms are finalized.