San Francisco-based hedge fund Inclusive Capital Partners (In-Cap) has made a £1.5 billion bid to acquire UK-based housebuilder Countryside Partnerships, according to a report by the Financial Times.
In-Cap went public with its offer to acquire the business on Monday having twice had approached rejected by the Countryside board.
With a 9 per cent stake in the business, In-Cap is Countryside's second largest shareholder after Browning West, which has also agitated for change at the company and now has a presence on the board.
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