Quote Of The Week

“We lost out on an acquisition here recently where, if the newspaper stories are right, we were beaten by nearly $100 million out of $370 million by a private equity firm that doesn’t have the synergies that we have. If that happens too often, we’re just going to keep on coming second here, and so therefore we need to broaden the list of targets that we get a chance to look at.”

—Outgoing Fletcher Building Ltd. CEO Ralph Waters explaining to the Dominion Post why his building materials company is now looking for acquisitions outside its home turf of New Zealand and Australia.