Travis Perkins demerger with Wickes ‘progressing well’

Travis Perkins demerger with Wickes ‘progressing well’

British builders’ merchant Travis Perkins plc (LON: TPK) today posted updates on its operations, calendar, and ultimately, its intention to demerge with Wickes.

The demerger was announced in July 2019, and today the Company said it is ‘progressing well’, and would be completed during the second quarter of 2020.

“The Group is hosting a capital markets event focusing on the Wickes business on the 29 January 2020. The event is being held at the Wickes Support Centre in Watford, followed by a tour of the nearby Wickes Watford store. The full invitation to the event can be found on the website, please confirm attendance with the IR team.”

Ahead of its capital markets event, the Company posted an initial presentation on its website’s ‘Investor’ section, which sets of the ‘future equity story‘ of the Wickes business.

Elsewhere, other merger-related updates have come from; Centamin PLC (LON: CEY) rejecting a merger approach, SoftBank Corp (TYO: 9984) attempts to merge two companies and HP Inc (NYSE: HPQ) and Xerox Corp (NYSE: HPQ) consider potential merger.

Following the announcement, the Company were down 2.32% or 36.00p per share, to 1,517.50p per share 10/12/19 14:55 GMT. Analysts from Liberum reiterated their ‘Buy’ stance on Travis Perkins stock. The Group’s p/e ratio is 13.57, their dividend yield stands at 3.09%.