Sheffield – LAWFUEL – The UK Law Newswire – Lawyers from the Sheffield office of DLA Piper have acted on another major transaction with the proposed takeover of one of Yorkshire’s longest established house builders Ben Bailey Plc by rival Gladedale Holdings Ltd.
The 700p per share offer from Gladedale, the privately owned national housebuilder and property development company, values the shares in the Rotherham-based business at around £83.7 million.
Set up in 1933, Ben Bailey is a household name across the region. It builds homes in Yorkshire, Lincolnshire, Derbyshire and Nottinghamshire and has a long track record and experience in brownfield developments.
The company is a long-established client of DLA Piper and Paul Firth, the law firm’s Regional Managing Partner, led all real estate aspects of the transaction assisted by a team of lawyers including associate Daniel Woodcock.
He said: “Our Sheffield office and myself personally have enjoyed dealing with all of Ben Bailey’s legal requirements for around 20 years now and we look forward to continuing that close working relationship going forward.
“We would like to think that our involvement in the strategic direction of the company over the years has in part contributed to its growth and success. We wish Ben Bailey and their current and future management and staff every success in the coming years.”
The proposed acquisition is the latest in a series of major, high profile transactions this year involving the corporate legal team at DLA Piper Sheffield. Just last month they completed one of the largest ever stock market flotations within the law firm’s European operation with the £453 million main market flotation of eaga plc.
The Ben Bailey deal, which reflects the continuing trend of consolidation in the house building sector, was led by corporate partner Catherine Simister. She added: “It is testament to the capabilities that we have in our Sheffield office that all angles of this significant transaction were dealt with here by lawyers who are familiar with every aspect of Ben Bailey’s business due to our in depth knowledge of their specific legal and business requirements.
“This is the latest in a number of major transactions that have been handled by the corporate team in Sheffield and reflects the calibre of the legal expertise available locally to the region’s business community.”