Marshalls raises £187m in accelerated bookbuild to help fund Marley deal

Landscape products manufacturer Marshalls said on Thursday that it has raised around £187m in an accelerated bookbuild to help fund the acquisition of roofing specialist Marley.

The company placed just over 28.8m shares at 650p each. This is a 6.1% discount to the closing share price on Wednesday.

Marshalls announced late on Wednesday that it had agreed to buy Marley from private equity firm Inflexion for £535m.

It said the deal would be financed through £371m in cash, which would be from a combination of around £187m from a firm placing and open offer and new debt financing, and 24,092,457 consideration shares expected to be issued to the sellers.