WELLINGTON, Feb 18 (Reuters) - New Zealand building supplies firm Fletcher Building Ltd said on Friday it has extended its offer for Australia's Crane group by two weeks to March 11.
Fletcher is still awaiting clearance from the New Zealand competition regulator, which is expected next week.
'We are confident of receiving the remaining regulatory clearances and extending the closing date to 11 March accommodates the expected timing of these decisions,' Fletcher Building Chief Executive Officer Jonathan Ling said in a statement.
Shares in Fletcher Building, New Zealand's largest listed company, last traded up 1 cent at NZ$8.35, matching the rise in the broader market.
The offer values Crane at around A$797 million ($789 million).
(Reporting by Mantik Kusjanto) Keywords: FLETCHER/CRANE (Mantik.Kusjanto@thomsonreuters.com)(+64 4 471 4234)(Reuters Messaging: mantik.kusjanto.reuters.com@reuters.net) COPYRIGHT Copyright Thomson Reuters 2011. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.
Fletcher is still awaiting clearance from the New Zealand competition regulator, which is expected next week.
'We are confident of receiving the remaining regulatory clearances and extending the closing date to 11 March accommodates the expected timing of these decisions,' Fletcher Building Chief Executive Officer Jonathan Ling said in a statement.
Shares in Fletcher Building, New Zealand's largest listed company, last traded up 1 cent at NZ$8.35, matching the rise in the broader market.
The offer values Crane at around A$797 million ($789 million).
(Reporting by Mantik Kusjanto) Keywords: FLETCHER/CRANE (Mantik.Kusjanto@thomsonreuters.com)(+64 4 471 4234)(Reuters Messaging: mantik.kusjanto.reuters.com@reuters.net) COPYRIGHT Copyright Thomson Reuters 2011. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.