Grafton close to Heiton takeover in €13m deal

Grafton has increased its stake in Heiton Holdings to just over 29%, fractionally short of the level needed to make a bid for the company.

The building materials and DIY group bought 2.6 million Heiton shares, according to a statement on the Irish Stock Exchange.

No purchase price was confirmed but it is believed to be around €5 a share, giving the deal a value of €13m.

This represented 5.3% of the company and the purchase was made through its subsidiary, Weeksbury.