Plumbing and heating supplier BSS has received a £553 million takeover bid from builders' merchant Travis Perkins.
The company sells plumbing and heating products to building firms through 439 stores and employs 5,000 people.

BSS, founded in 1899, recently reported its annual profits had fallen 24% to £44.2 million.

The board of BBS are said to favour the offer made by Travis Perkins and would be prepared to recommend it. The two companies are currently in advanced discussions.

Travis Perkins employs 17,000 people at 1,200 sites in the UK and believes the combination of its heating and plumbing supplies business with BSS would create the leading plumbing and heating trade and retail distribution business in the UK.