Ferguson PLC - Wokingham, England-based, US-focused plumbing and heating products supplier operated from Newport News, Virginia - Appoints JP Morgan Securities to conduct the next tranche of its USD2.5 billion share buyback. JP Morgan will buy back up to USD145 million in shares over a period starting from Monday and ending no later than March 20. Shareholders back in November approved Ferguson buying back up to 20.8 million shares, currently worth GBP2.36 billion, to reduce the capital of the company.
Current stock price: 11,385.97 pence, up 0.4% on Monday morning in London
12-month change: down 9.1%
By Tom Waite, Alliance News editor
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Ferguson (FERG)