Broker made $46m offer ‘out of the blue’ last night.
Tim Hunter Wed, 17 Oct 2018
ASX-listed BlueScope Steel has bought a 15.8% stake in Steel & Tube for $46 million from fund manager Milford.
The acquisition trumps a play for the NZX-listed construction products distributor by Fletcher Building, whose indicative offer of $1.90 a share was rejected by Steel & Tube’s board
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