Brief: Steel & Tube Updates Shareholders Following Fletcher's Withdrawal of Takeover Offer

Steel & Tube Holdings

16/10/2018 21:24

Oct 17 (Reuters) - Steel & Tube Holdings Ltd  STU.NZ :
    * RESOLVED TO TAKE ADDITIONAL STEP OF COMMISSIONING AN
INDEPENDENT
EXPERT VALUATION OF CO
    * BOARD WANTED TO ENSURE REVISED OFFER PRICE FROM FLETCHER
BUILDING WAS APPROPRIATELY ASSESSED AGAINST AN INDEPENDENT
EXPERT'S VIEW
    * OUTCOME OF EXPERT VALUATION WOULD HAVE BEEN KEY FACTOR IN
BOARD
DETERMINING WHETHER TO PROCEED FURTHER WITH REVISED OFFER FROM
FLETCHERS
    * WILL CONTINUE TO EVALUATE STRATEGIES AND OPPORTUNITIES
THAT
DELIVER BEST VALUE TO SHAREHOLDERS
    * UPDATES SHAREHOLDERS FOLLOWING DECISION OF FLETCHER
BUILDING TO
WITHDRAW ITS OFFER TO ACQUIRE CO

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

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