Merger plans called off
Merger negotiations between property agents GVA Grimley and Donaldsons have been discontinued. When the proposed merger was announced in August, the two firms thought there would be a beneficial client and specialisation fit, but GVA grimley reports that a detailed review of client services, operational styles and staff overlaps had revealed problems which were believed to be insurmountable. GVA Grimley chief executive Michael Corbett said both parties now believed the strategic benefits of a merger would not outweigh the difficulties of integrating the two businesses. “While the merger presented an obvious business fit between two like-minded firms, this was insufficient to justify the merger,” Mr Corbett said.