Tower chair Stiassny cautions shareholders over Suncorp offer

Tue, 21 Feb 2017

By Paul McBeth Feb. 22 (BusinessDesk) - Tower chairman Michael Stiassny is warning shareholders to tread carefully over the offer to buy their shares from ASX-listed insurer Suncorp Group, which owns rival Vero Insurance. The NZX-listed general insurer's board has already recommended shareholders accept a $197 million offer from Canada's Fairfax Financial Holdings at $1.17 a share, and wants to fully review a rival bid before making a new recommendation. Tower said Suncorp had approached shareholders via UBS, to buy up to 19.99 percent o...

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