Homeserve makes D&G approach

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Homeserve says that it has approached Domestic & General (D&G) about a possible takeover.

The company earlier announced that it had seen full year pretax profits increase by 22 per cent - with the acquisitive home emergency services company adding that it would pay around £37 million for home insurance repairer Anglia.

Pretax profits at the company reached £61.1 million - up from £50 million at the same stage last year. The company's dividend per share grew by 25 per cent to stand at 25 pence.

Homeserve says that it plans to supplement organic growth over the coming years with acquisitions - and that this latest merger deal will allow it to fully implement its strategy of total home emergency cover.

Analysts claim that if the takeover does go ahead, it will create a contender with the power to challenge British Gas in the home and heating cover market - as British Gas currently dominates the market, with Homeserve and D&G as its closest, yet relatively distant, rivals.

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