Australia's competition watchdog has given the green light for Fletcher Building to acquire Crane Group.
Fletcher Building is offering a stock deal worth $AUS10.07 per share for the plumbing and building supplies company, valuing the firm at almost $800 million.
The Australian Competition and Consumer Commission has cleared the possible takeover.
Fletcher Building has acceptances giving it 18.8% of Crane and needs 90% for its takeover offer to go ahead.
