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Fletcher Building is expected to battle Australian building materials group Boral and North American forestry giant Weyerhaeuser in the auction for Carter Holt's timber products division, an Australian media report says.
The timber products business, which has 18 sawmill and wood manufacturing plants on both sides of the Tasman, was put up for sale by Graeme Hart after an approach from Fletcher Building, the report says.
The timber division is expected to fetch about $2.4 billion, topping the $2.24 billion Telecom attracted for its Yellow Pages business.
