GEORGE Wimpey and Taylor Woodrow have unveiled merger plans to create the UK's biggest housebuilder in the latest wave of consolidation in the sector.
The combined company, which will be known as Taylor Wimpey, will boast a market value of £5 billion, propelling it into London's blue-chip FTSE 100 Index.
The merged group will have sales of more than £6.7 billion and is set to build more than 30,000 homes a year in the UK and North America.
The companies said that the all-share deal would bring about at least £70 million a year in cost-savings and put the new business in a stronger position to recover from the recent slowdown in the US housing market.
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