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Ferguson rallies after Trian acquires 6% stake for £736m

Thursday, 13th June 2019
Plumbing products distributor Ferguson rallied after revealing that Nelson Peltz?s Trian Fund Management had acquired a stake of about 6% in the company in a deal valued at about £736m.

Trian Investors 1 acquired in a 5.98% stake in Ferguson, valued at approximately £736m, saying the plumbing products distributor was an 'attractive' investment as it traded at a discount to peers in the United States.

As of June 12, Trian had invested approximately £250m in Ferguson at an average cost basis of £52.85 per share.

'Trian has contacted members of Ferguson's management team and looks forward to working with them to explore and implement initiatives that it believes can create long-term shareholder value,' the company said.


At 10:21am: (LON:FERG) Ferguson Plc share price was +315p at 5625p



Story provided by StockMarketWire.com

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