Bryant chief executive Peter Long this week launched an attack on housebuilding bosses, saying they were too conservative, as his firm agreed a £535m bid from rival Taylor Woodrow.
Criticising the sector for failing to meet productivity and customer satisfaction targets over the past decade, Long said: "There are a lot of people out there whose interest is in maintaining the status quo. But the status quo is unacceptable. The sector needs to change." Long said too many senior executives were content to let things slide in the wake of City calls for consolidation, claiming: "The sector has not made any significant improvements in productivity in relation to other industries. All this toing and froing should not distract us from this." The agreed deal with Taywood, which values Bryant at 207p a share, follows three rejected bids last week. It led to speculation that Bryant's construction arm, with a turnover of £110m, would be sold to a management team. This was denied by Long.

One source close to the construction arm said: "I think Taywood is just interested in housing. Bryant has a good little team in construction." The deal also raises the prospect of Taywood pulling out of construction. Its construction arm currently turns over £511m.

The deal will create a combined UK housing group of £864m, which will build 6000 homes a year. Taywood expects to save £15m each year from the move, with £6m set aside to integrate Bryant.

Taywood is expected to develop the Bryant brand in the UK, apart from its central London housebuilding operation. A new board has yet to be finalised.

There are a lot of people out there whose interest is in maintaining the status quo, when the sector needs to change

Bryant boss Peter Long

City sources have already raised question marks over the future of Long and Patrick Scannell, Bryant's finance director .

The bid attracted criticism from ING Barings Charterhouse, which advised Taywood shareholders to vote against the acquisition.