GPG gives nod to sweeter ClearView bid

Wed, 29 Aug 2012

By Paul McBeth Aug. 29 (BusinessDesk) - Corporate raider Guinness Peat Group has given the nod to a better offer for ASX-listed financial services firm ClearView Wealth after turning its nose up at the original bid of A$220 million. Buyout firm Crescent Capital Partners, via holding vehicle CCP BidCo Pty, has raised its offer by 18 percent to 59 Australian cents per share for the wealth manager, made up of a 55 cents cash offer, a special 2.2 cent unfranked dividend and letting ClearView pay its 2012 final dividend of 1.8 cents. That values t...

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