Fletcher Building. Photo / Shenaye Campbell
Fletcher Building said a company called Washington Securities Pty was making an unsolicited offer to some holders of the company's shares at 40 per cent less than the stock's market price.
Washington Securities, an Australian company, is offering $5.00 per share compared with this morning's NZX-quoted price of $8.66.
"As
the offer is significantly less than the current market value of Fletcher Building shares, it is strongly recommended that any shareholder who receives such an offer seek independent advice from a share-broker, accountant or solicitor,'' Fletcher Building said in a statement.
Last month, the chairman of Vector, Michael Stiassny, warned Vector shareholders that Washington Securities was offering shareholders $2.00 per share, well below the going price at the time.
In today's statement, Fletcher Building said it understood that Washington Securities was targeting shareholders holding around 50 to 100 shares who may have thought it was expensive or difficult to otherwise sell their shares.
