Fletcher shares rise on speculation of bid

(Image; Getty)

Thu, 23 May 2024

Fletcher Building shares have risen almost 10% on the back of reports of a potential buy out.The Australian reported that United States-based Platinum Equity is understood to be carrying out a substantial amount of work on a buyout of all or parts of Fletcher.Fletcher’s share price has plummeted after a series of downgrades leading to clean out of senior executives and the board. Platinum specialises in undervalued and out-of-favour market opportunities, but the Australian said it also has strong expertise in the building materials i...

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