Fletcher Building shares in trading halt
Shares halted pending material announcement by the company.
UPDATE: Fletcher Building shares were still in a halt when the NZX closed.
Shares in Fletcher Building are in a trading halt, ahead of a material announcement by the company.
The NZX placed a trading halt on securities this morning, at the request of the construction materials company – which has made a $754 million hostile offer for Australian plumbing and building supplied firm Crane.
Fletcher, which already owns 14.9% of Crane, is offering one Fletcher share and $A3.47 cash per share – less Crane’s interim dividend, declared last week at 22c a share.
Sydney-based Crane, which rejected Fletcher's cash and scrip offer shortly after it was launched mid-December, said it would release its official response to the bid next week.
Fletcher [FBU:NZX] shares closed at $7.89 on the NZX last night, having fetched between $7.16 and $8.70 in the last year.
NBR staff
Thu, 27 Jan 2011
Thu, 27 Jan 2011
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Fletcher Building shares in trading halt
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