LSL backs out of Countrywide plc merger

LSL backs out of Countrywide plc merger

After announcing its intention for an all-share merger with Countrywide plc on 24 February 2020, LSL Property Services plc (LSL) has confirmed, on 16 March, that it no longer intends to proceed.  No reason has been provided by LSL for the decision.

Countrywide plc has responded to LSL’s announcement, noting its withdrawal and stating that;

‘The Company has been seeing the benefits from its 'Back to basics' turnaround plan, with continuing operations having returned to growth in profitability.  The Board of Countrywide remains confident in the strength of the underlying business as an independent Company.

The Company has seen a positive mood swing in public sentiment through the early part of 2020 which we have seen reflected in a strong start in agreed sales which are ahead of the Board's ex

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