Fletcher quits pursuit of Steel & Tube after failing to win over board

Sun, 14 Oct 2018

By Paul McBeth Oct. 15 (BusinessDesk) - Fletcher Building won't keep chasing Steel & Tube Holdings after failing to win over the board with its latest offer. The country's biggest listed construction company was willing to pay $1.90 a share and let Steel & Tube pay a 5 cents per share special dividend, which it says was an attractive offer. The initial bid $1.70 was rejected as too low by Steel & Tube, but the steel products maker's board was willing to get an independent expert look over the increased offer. That won't need to happe...

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