Shares in Crest Nicholson fell after the Heron Corporation stepped back from its takeover bid. Crest shares fell 51/4p to 3721/2p. Crest chairman John Matthews said: “We remain confident that Crest has excellent prospects and look forward to demonstrating how the continuation of our strategy of adding a strong urban regeneration business to our traditional housebuilding activities will generate significant value for shareholders.” Mark Hughes, housing analyst with Numis, said: “It does put pressure on them [Crest]. But if I was a Crest shareholder I would see that as a good thing, because they either perform better or get taken over.” (FT, Times)