Barratt Developments and Redrow have completed their merger, overcoming objections on the grounds of competition. 

They announced their decision to press on with the merger, although an issue arose from the Competition and Markets Authority (CMA) due to the proximity of two developments in Shropshire. 

These objections were removed on Friday in a statement from the CMA, paving the way for the merger, thanks to agreeing to appoint Savills as an independent to oversee the sale of unsold properties, removing the market concern in that area. 

It follows Redrow being de-listed from the London Stock Exchange at the end of August and, after the announcement of the CMA’s decision, the formal change of name to Barratt Redrow. 

“With this combination, we have created an exceptional housebuilder in terms of quality, service and sustainability, able to accelerate the delivery of the homes this country needs,” says David Thomas, CEO of Barratt. 

“Together, we offer a broader range of homes and price points for our customers who we will continue to put at the heart of everything we do. Our focus now is on integrating our businesses as efficiently and effectively as we can to deliver the expected benefits of the combination.” 

The intent is to complete the integration of the two companies within the next 18 months. 

The merger has been a serious prospect for most of the year, since the announcement in February of a recommended all-share offer for the combination of the two companies. 

Thomas adds: “We will leverage the best of both companies to deliver significant benefits to our people, our customers and our supply chain partners, and ensuring that Barratt Redrow is set up to deliver long term value to all of its stakeholders.” 

Barratt also entered the MADE partnership in a joint venture with Homes England and Lloyds Banking Group to focus on master development.