Ferguson PLC (FERG) has shared an announcement.
Ferguson plc is set to become a wholly owned subsidiary of a new Delaware corporation as part of a strategic decision to relocate the Group’s ultimate parent company to the United States, through a merger slated for completion on August 1, 2024. Shareholders will receive shares in the new parent company on a one-for-one basis, with the new stock expected to be listed on the NYSE and LSE. The current leadership, except for the retiring Sammie Long, will continue to manage the new entity, with the merger contingent on meeting various conditions including shareholder approval and regulatory consent.
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