Persimmon PLC
15 January 2001
Monday, 15 January 2001
Not for release, publication or distribution in or into the United States or
America, Canada, Australia or Japan
Persimmon plc ('Persimmon')
RE: Beazer Group Plc ('Beazer')
The Board of Persimmon notes speculation that it is considering an offer to
acquire the entire issued share capital of Beazer. Over the last six months,
the Board has evaluated a number of acquisition opportunities. This process
resulted in two approaches during late 2000 to the Board of Beazer concerning
a possible offer on behalf of Persimmon to acquire Beazer. On each occasion,
the Board of Beazer rejected the approaches.
In the event that the proposed merger of equals of Beazer with Bryant Group
plc ('Bryant') is not approved at the Extraordinary General Meeting of Bryant
today, although it is not certain Persimmon intends to submit to the Board of
Beazer an indicative offer proposal by no later than 19 January 2001. Such an
offer proposal would be at a greater level than the current value of the
Bryant proposal and would include a cash element of at least 50 per cent.
Hoare Govett Limited, which is regulated in the United Kingdom by The
Securities and Futures Authority Limited, is acting for Persimmon and no-one
else in connection with the matters described herein and will not be
responsible to anyone other than Persimmon for providing the protections
afforded to customers of Hoare Govett Limited or for giving advice in relation
thereto.
Hoare Govett Limited has authorised the issue of this announcement solely for
the purposes of section 57 of the Financial Services Act 1986.
This announcement does not constitute an offer or an invitation to purchase
any securities.
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