Steel & Tube considered bid for FBU steel assets, chair reveals

Thu, 25 Oct 2018

By Pattrick Smellie Oct. 25 (BusinessDesk) - Steel & Tube considered bidding for Fletcher Building's steel and reinforcing businesses earlier this year but concluded such a bid would take too long and could struggle to gain permission from the Commerce Commission, says S&T chair Susan Paterson. Speaking directly to shareholders for the first time since the board rejected a non-binding, indicative takeover offer from Fletcher earlier this month, Paterson revealed "when Fletcher Building had bank covenant issues earlier in the year we looke...

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