LSL Property Services and Countrywide, two of the UK’s largest listed estate agents, are in discussions regarding a £500m merger. The proposed merger would create the UK’s largest estate agency group.
Collectively, they have over 14,000 staff across more than 1,000 outlets – including brands such as Your Move and Marsh & Parsons. Around 10,000 of the total staff work for Countrywide.
It is very likely that the Takeover Panel will force the two firms to confirm the merger talks on later today.
LSL are valued at around £355m and as of last Friday Countrywide was given a market value of more than £110m.