Multibillion-pound Barratt-Redrow deal approved by shareholders

In March, the CMA launched an invitation to comment for interested parties, which closed in April. A spokesperson for the CMA said the organisation had nothing further to add on next steps at this stage.

The CMA has also launched an investigation into eight house builders, including Barratt and Redrow, over suspected information-sharing.

The boards of Barratt and Redrow agreed the deal in February this year. The combined group will be known as Barratt Redrow. It will have capacity to build “in excess” of 22,000 homes a year and is expected to bring in annual revenues of around £7.5bn, the filing said.

The listed firms said the tie-up will bring together their “highly complementary geographic footprints” and “accelerate the delivery” of new homes.

Barratt and Redrow said that they expect annual cost savings of around £90m as a result of the deal.

David Thomas, chief executive of Barratt, who will lead the new group, said: “This is an exciting opportunity to bring together two highly complementary companies, creating an exceptional home builder in terms of quality, service and sustainability, able to build more of the high-quality homes this country needs.”

Redrow is working with Barclays and has appointed Peel Hunt as its financial advisor and corporate broker, while UBS is sole corporate broker, lead financial advisor and sole sponsor for Barratt, and Morgan Stanley is its financial advisor.