Builders鈥� merchant has agreed to buy plumbing and heating firm BSS Group
Builders鈥� merchant Travis Perkins has agreed to buy plumbing and heating firm BSS Group for 拢558m.
Travis Perkins has made an offer of 435.8p per share, a 4.7% premium on the 416.2p closing price on Friday.
Perkins said that it believes it will achieve cost savings of around 拢25m by 2013 due to the deal, after one-off costs of about 拢5m.
Robert Walker, chairman of Travis Perkins said: 鈥淲e believe that there is a strong strategic rationale for the acquisition of BSS which will create the leading plumbing and heating trade and retail distribution business in the UK.鈥�
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