Speculation that builders merchant group Travis Perkins could be lining up to takeover competitor Galiform pushed the former’s share price up to 835p this morning and the latter’s up to 79p.
Galiform trades as Howdens Joinery with 450 depots in the UK, selling kitchens and joinery from local depots to small builders nationwide.
Travis’s gearing stands at 36%, leaving scope for further spending, according to the Daily Mail.
Travis Perkins already own Wickes, where kitchen sales have soared , helped by the bankruptcy of MFI. Adding Howdens would help lift the business to a new level.