Fletcher Building passes threshold for Crane bid

Photo / Supplied

Fletcher Building is past the 50 per cent acceptance threshold for its takeover of Australian company Crane Group.

It said yesterday the aggregate of its interest in Crane shares, plus the Crane shares subject to the institutional acceptance facility, was 50.9 per cent.

The offer, which closes on March 25, has more than 53 per cent support of shareholders by number, Fletcher said.

Fletcher Building shares closed up 8c yesterday at $8.86.