(Reuters) - British homebuilder Bellway ( BLWYF ) on Thursday confirmed that it had recently made an all-share offer to acquire Crest Nicholson, in a deal which would have valued the rival at about 6.5 billion pounds ($8.29 billion).

Bellway ( BLWYF ) said that while Crest Nicholson's board had rejected the offer, there was a "compelling strategic and financial rationale" for combining the two companies.

($1 = 0.7844 pounds)