Brief: Steel & Tube Receives Revised Offer From Fletcher Building

Steel & Tube Holdings

14/10/2018 21:30

Oct 15 (Reuters) - Steel & Tube Holdings Ltd  STU.NZ :
    * RECEIVED A REVISED NON-BINDING INDICATIVE OFFER (NBIO)
FROM
FLETCHER BUILDING LIMITED TO ACQUIRE STEEL & TUBE
    * BOARD REMAINS OF VIEW AND HAS INFORMED FLETCHER BUILDING
THAT
COMPANY'S VALUE EXCEEDS REVISED PRICE OF $1.90 PER SHARE
    * BOARD REMAINS OF VIEW AND HAS INFORMED FLETCHER BUILDING
THAT
COMPANY'S VALUE EXCEEDS REVISED PRICE OF $1.90 PER SHARE
    * RECEIVED A REVISED NBIO FROM FLETCHERS, WITH PROVISION FOR
A
PERMITTED DIVIDEND OF UP TO 5 CENTS PER SHARE
    * IN LIGHT OF REVISED OFFER BOARD IS COMMISSIONING AN
INDEPENDENT
EXPERT REPORT WHICH WILL TAKE 3 -4 WEEKS
    * ALL FIGURES IN NZ$

Source text for Eikon:  ID:nNZShpna 
Further company coverage:  STU.NZ 

 ((Reuters.Briefs@thomsonreuters.com;))