Travis Shares hold their price

Published:  04 June, 2010

LONDON: Travis Perkins' shares rose to a weekly high of 829p last Friday after the firm said it planned a 553m takeover bid for heating and plumbing specialist BSS.

The shares remained about 6% up on the level they were at before the announcement. US investors helped push the builders' merchant's shares even higher on Tuesday.

BSS shares, which are now effectively pegged to Travis Perkins' because of the proposed deal, have done even better, maintaining a 35% rise in the first part of the week, and closing at 438p on Tuesday.

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