ClearView, controlled by GPG, urges shareholders to reject A$220M offer from Crescent

Mon, 20 Aug 2012

Aug. 20 (BusinessDesk) - ClearView Wealth, the financial services company that is 48 percent owned by Guinness Peat Group, has advised shareholders to reject a A$220 million offer from buyout firm Crescent Capital Partners that would install former GPG director Gary Weiss as chairman. ClearView’s directors said the offer “is inadequate and substantially undervalues the company.” It urged shareholders to reject the 50 Australian cents-a-share offer after an independent appraisal from KPMG Corporate Finance value the company at between 68 cents...

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