Housebuilder Vistry plotting takeover of troubled rival Countryside Partnerships

FTSE 250 housebuilder Vistry is plotting a takeover of its troubled rival Countryside Partnerships. 

Vistry boss Greg Fitzgerald is thought to be considering a swoop after Countryside put itself up for sale in June following the rejection of two bids from third-largest investor Inclusive Capital. 

Inclusive offered as much as £1.5billion for the firm but Vistry is thought to be targeting a lower bid as the outlook for the housing market darkens amid spiralling inflation, the Sunday Telegraph reported. 

The firm is betting a cut-price takeover of Countryside will allow it to reap the benefits of a house building boom that is expected under Liz Truss, who has vowed to cut red tape in the sector.