![](https://static.standard.co.uk/2023/12/04/13/03/ftse100live.JPG.jpg?width=1200&auto=webp)
Barratt Developments is poised to buy Redrow after the housebuilders unveiled a surprise deal this morning.
The proposed move by Barratt values Redrow at £2.5 billion, representing a premium of 27% on last night’s closing price for the FTSE 250 company.
Elsewhere in the sector, it emerged that momentum in the house market has continued after Halifax reported a 1.3% rise in average prices last month.