Howden takeover rumours perk up share price

Published:  23 May, 2011

LONDON: Howden Joinery share price lifted last week on hopes that it could be a target for Travis Perkins.

According to broker Evolution: "Travis is in the process of expanding its nascent position in the kitchens market. Howden might stack up as a target.

"Both companies are UK-focused and kitchens are a complementary line for Travis' merchants business, which could also be complementary to Travis' Wickes retail business."

Speculation of such a move has been seen before and the broker said Travis "is now positioned for another deal" having sorted out the competition issues of last year's £560m purchase of the plumbing group BSS.

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