Builders 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 last Friday.

The company said the deal would help it to achieve cost savings of about 拢25m by 2013, after one-off costs of about 拢5m.

Robert Walker, chairman of Travis Perkins, said: 鈥淲e believe 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�

Travis Perkins first signalled its intention to buy BSS in May when it made an indicative offer. Talks have continued since then.

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