 The merged company would be large enough for the FTSE 100 |
Housebuilders George Wimpey and Taylor Woodrow are about to merge, a number of Sunday newspapers have reported. A tie-up between the two UK companies could be announced to the London Stock Exchange as early as Monday morning, according to the press speculation.
The firms, which both have operations in the US, are said to be keen to merge because of the current slowdown in the American housing market.
Both George Wimpey and Taylor Woodrow declined to comment.
Job cut fears
Wimpey's chief executive Peter Redfern is expected to take control of any merged company, while the chairman of Taylor Woodrow, Norman Askew, would remain in that role.
The combined company would be propelled into the FTSE 100 list of the UK's largest public companies by market capitalisation, and would have a workforce of about 14,000.
Some analysts have predicted that at least 10% of those jobs could be cut following the merger.
Both firms have recently warned of tough trading conditions in the US.
One-Minute World News 
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