Barratt Developments Plc has agreed to buy rival Redrow Plc, a deal that would create the UK’s biggest homebuilder.

With the acquisition, Barratt Developments is taking a major bet on the prospects for a rebound in Britain’s beleaguered housing market ahead of a general election. The deal would give Barratt access to a vast land bank at a time when pledges to increase housing output are likely to play a central role in the upcoming general election.

Reprinted courtesy of Damian Shepherd, Bloomberg and Jack Sidders, Bloomberg