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.