Grafton gets 54% approval for Heiton deal

BUILDING materials group Grafton moved a step closer to clinching its takeover of rival Heiton yesterday when it said more than 80% of shareholders were in favour of the deal.

Grafton, which owns Woodie’s DIY and the Chadwicks chain of builders’ providers, said almost 54% of shareholders had accepted its takeover terms, which valued Heiton at €336 million.

Grafton already controlled almost 29% of the company before it triggered the takeover battle earlier this year.