Arrival of an activist spurs business split and increases the chances of switching listing to the US
Thursday 05 Sep 2019 Author: Ian Conway
FTSE 100 plumbing and heating supplies firm Ferguson ( FERG ) plans to demerge its UK business, which trades under the old Wolseley banner, and make it an independently-listed company. The UK business made up just 12% of turnover and less than 5% of trading profits in the year to 31 July 2018, with the vast majority of sales and earnings coming from the much bigger US market. Although...