Fairclough buys Miller for £264m

Headnote

Centex offloads housebuilder following several unsuccessful bids from Miller Group.

Miller Group has acquired Fairclough Homes at a cost of £264m. The move transforms Miller into a top-10 player in the housebuilding sector with the ability to construct more than 4,000 houses a year.

The seller was Centex Corporation, a group listed on the New York Stock Exchange that bought the business from Amec six years ago.

Miller's approaches over the past few years had been turned...