Fletcher Building gains more than 90% of Crane Group

Fletcher Building has secured more than 90% of Crane Group's shares and will move to compulsory acquisition of remaining shares.

The New Zealand-based company's offer for the Australian pipe and plumbing firm will close as scheduled tomorrow and Fletcher Building will proceed with compulsory acquisition following the close of the offer.

Fletcher Building said it had acceptances for 92.7% of Crane's shares. It had earlier declared the offer unconditional.

"We are excited about the future prospects of the combined group. We have a great deal of confidence in Crane's divisional management and staff and believe we are well placed to take advantage of the complementary nature of our businesses," Fletcher Building chief executive Jonathan Ling said.

NZPA

Comments from our readers

No comments yet

Add your comment:

Your name:
Your email:	Not displayed to the public
Comment:
Comments to Sharechat go through an approval process. Comments which are defamatory, abusive or in some way deemed inappropriate will not be approved. It is allowable to use some form of non-de-plume for your name, however we recommend real email addresses are used. Comments from free email addresses such as Gmail, Yahoo, Hotmail, etc may not be approved.

Anti-spam verification:

Type the text you see in the image into the field below. You are asked to do this in order to verify that this enquiry is not being performed by an automated process.

Related News:

VTL - Takeovers Panel orders Empire to reimburse Vital's expenses
March 14th Morning Report
SKT - Sky secures iconic sports rights
RYM - Ryman completes Retail Entitlement Offer
TEM - Transaction in Own Shares
FPH launches F&P Nova™ Nasal mask in NZ and AU
Fonterra announces changes to management team
March 12th Morning Report
WHS FY25 Interim Results teleconference details
VGL - Odeon Cinemas Group signs for Vista Cloud