FTSE 250-listed Crest Nicholson PLC (LSE:CRST) has shot up 5.5%, making it a top riser in the mid-cap space.
It comes as the housebuilder weighs an 'all-share combination' with Avant Homes, which is headed by former Persimmon alumni Jeff Fairburn.
There is a good chance that Crest would have made gains today regardless; housebuilders have roundly rallied following Labour’s comprehensive thrashing of the Tories at the polls.
Labour has pledged to build 1.5 million homes during its first term, causing the likes of Persimmon, Taylor Wimpey and Vistry to shoot to the top of the FTSE 100 risers table.
Crest Nicholson shares are currently changing hands for 259.54p.