Connells has confirmed its £82 million purchase bills nationwide.
The real estate agent chain said it would provide 250p per share in cash on Monday morning.
“We’re committed to providing a range of services to our customers,” said David Livesey, CEO of Connells Group.
“There are no quick and easy fixes, especially in unpredictable market conditions, turning your business around can be a difficult, expensive and long process.
“Countrywide needs new ownership, not just another speculative scheme based on hope rather than experience.
“Our proposals give shareholders across the country an immediate immediate cash profit at a premium of 72% above the uninterrupted price, with no downside risk of remaining independent.”
Connells also said that without the offer there is a high chance that the country will “enter administration without significant capital injections.”
Company offers are currently subject to approval from the board of directors and shareholder support.
Stocks of Real Estate Agent Group (LON:CWD) have expired almost 8% in the news and are currently trading at 233,20 (1443GMT).
