A British firm said it will acquire Gifford-Hill & Co.

C. H. Beazer Holdings will acquire all outstanding shares of Gifford-Hill for $32 each, or a total of $275 million, officials at both companies said. The merger should be completed in early 1987. Dallas-based Gifford-Hill, a cement and construction materials firm also engaged in real estate, has also given Beazer the option to buy up to 1.6 million shares of its authorized but unissued common stock for $32 per share. This would give Beazer a majority of Gifford-Hill’s voting stock.