Redrow shares jump amid rumours of a possible takeover

Homebuilder Redrow's shares surged on the back of 'market chatter' regarding a possible takeover.

According to Betaville, people following the situation had heard rumours of a predator circling the company.

Betaville noted how an attempt in 2012 by the company's founder and largest shareholder, Steve Morgan, together with hedge fund Toscafund and private equity outfit Penta Capital, had failed to get off the ground.

As of 1110 BST, shares of Redrow were trading 4.74% higher to 672.20p, having earlier climbed as high as 675.80p.