	fletcher challenge disappointed at nz forest moves fletcher challenge ltd fcl managing director hugh fletcher said he was disappointed that rada corp ltd had decided to sell its shares in n z forest products ltd nzfp to australia s amcor ltd he said in a statement that fcl had made an offer for the pct of nzfp held by rada he said the fcl offer was better than amcor s because it would have been made to all nzfp shareholders but he gave no further details amcor and nzfp said earlier today they were merging their pulp and paper interests in a joint partnership and were increasing their existing cross shareholdings the plan involves nzfp increasing its current holding in amcor to about pct from four pct amcor will uire rada s nzfp stake to add to its existing pct and will seek statutory approval to increase its holding to pct rada bought its stake for mln dlrs from wattie industries ltd last year but it has not disclosed the price to be paid by amcor fcl originally launched a takeover bid for nzfp late last year with a scrip and or cash offer at dlrs a share valuing the company at billion dlrs nzfp shares ended at dlrs today reuter 
