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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 $2.5 billion share buyback. JP Morgan will buy back up to $145 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 £2.36 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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