(Reuters) - Fletcher said it would pay US$700 million to buy the
Cincinnati-based Formica from private equity firms Cerberus
Capital Management and Oaktree Capital Management.
Fletcher said it would place 26 million shares to raise
around NZ$300 million to part fund the purchase.
The issue equates to a price of around NZ$11.54 a share, an 8.8
percent discount to Fletcher Building's closing share price on
Tuesday.
Read more at Reuters.com Mergers News
Cincinnati-based Formica from private equity firms Cerberus
Capital Management and Oaktree Capital Management.
Fletcher said it would place 26 million shares to raise
around NZ$300 million to part fund the purchase.
The issue equates to a price of around NZ$11.54 a share, an 8.8
percent discount to Fletcher Building's closing share price on
Tuesday.
Read more at Reuters.com Mergers News
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