Travis Perkins - Offer for the BSS Group

  • 05 July 2010
 

Slaughter and May is advising Travis Perkins, the building merchants, on a recommended cash and share acquisition of the BSS Group PLC, the plumbing and heating company. The offer values BSS at approximately £557.6 million.

The acquisition, which was announced on 5 July 2010, will be implemented by way of a scheme of arrangements pursuant to Part 26 of the Companies Act 2006, although Travis Perkins reserves the right to seek to implement the acquisition by way of an offer. The cash consideration for the acquisition is being provided from the debt facility that Travis Perkins has with its existing relationship banks.

The combination will create the leading plumbing and heating trade and retail distribution business in the UK.

 
 

Contacts

 

Robert Stern (partner), Stephen Cooke (partner), Iqbal Hussain (associate), Matthew Poxon (associate); Financing: Mark Dwyer (partner), Jonathan Gilmour (associate); Competition: Michael Rowe (partner), Alistair Newton (associate); Pensions: Jonathan Fenn (partner), Michael Aherne (associate); Tax: Sara Luder (partner), Sarah Ring (associate)

 
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