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NZ's Fletcher Building says Wesfarmers does not hold shares in company

Published 17/04/2018, 08:56 am
NZ's Fletcher Building says Wesfarmers does not hold shares in company
WES
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SYDNEY, April 17 (Reuters) - New Zealand's Fletcher Building FBU.NZ FBU.NZ Chief Executive Ross Taylor said on Tuesday that rumoured takeover suitor, Australian conglomerate Wesfarmers Ltd WES.AX , does not hold shares in the company.

Shares in Fletcher surged on Friday following an Australian media report that the Wesfarmers had acquired 3 percent to 4 percent stake in New Zealand's biggest construction company with a view to a takeover. investment firm Ellerston Capital said on Monday it has built a 5.1 percent stake in Fletcher. Taylor did not comment on that acquisition during a media call.

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