Johnson Matthey to replace outbound Homeserve in FTSE 100

Wed, 28th Dec 2022 18:30

(Alliance News) - Johnson Matthey PLC will return to the FTSE 100 as part of index changes stemming from the buyout of home repairs company Homeserve PLC, index operator FTSE Russell said Wednesday.

The Walsall, England-based company in May reached an agreement for a GBP4.08 billion takeover by Hestia Bidco Ltd, a subsidiary of Brookfield. The deal will be effective next month.

London-based speciality chemicals company Johnson Matthey rejoins London's large-cap benchmark from January 4, FTSE Russell. It had been dumped from the FTSE 100 just over a year ago following an index review.

London-based geotechnical specialist contractor Keller Group PLC will join the FTSE 250, also with effect January 4.

Johnson Matthey shares ended 0.3% lower at 2,100.75 pence in London on Wednesday. Keller rose 2.5% to 791.36p.

By Eric Cunha, Alliance News news editor

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