Wolseley seen edging higher on bid talk

Fri May 30, 2008 3:27pm BST

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LONDON (Reuters) - Shares in Wolseley (WOS.L) gained over 2 percent on Friday, as traders cited bid interest in the building materials distributor.

Wolseley declined to comment.

One trader said U.S. home improvement retailer Home Depot (HD.N) was being mentioned as a possible suitor. Home Depot shares dipped 1 percent

Last week Wolseley reported a 30 percent fall in nine-month profit in line with its first-half performance, but said markets had slowed sharply in recent weeks.

At 3:17 p.m., Wolseley was up 2.2 percent at 549.5 pence per share.

(Reporting by Michael Taylor)

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