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Travis Perkins bid for BSS under watchdog glare
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27 September 2010
Travis Perkins' planned £558 million purchase of BSS Group has been delayed after the Office of Fair Trading said it needed more time to examine the deal.
The builder's merchant, which also runs the Wickes home improvements chain, said the OFT had extended the decision date on whether to give the deal the go ahead to October 19.
Travis said it would not meet its timetable for completing the deal and will update the market in due course. It had planned to complete the acquisition on October 22.
The deal would create Britain's biggest plumbing and heating trade and retail distribution business.
Shares in Travis Perkins were down 0.1% to 853p after trading began today, with BSS shares down 4% to 454.7p.
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