UPDATE: GPG spurns A$220M takeover bid for ClearView that would install Weiss as chairman

Thu, 12 Jul 2012

By Paul McBeth July 12 (BusinessDesk) - Guinness Peat Group says a A$220 million offer for ClearView Wealth that would install former director Gary Weiss as chairman is "wholly inadequate." The 50 Australian cents-a-share offer from private equity firm Crescent Capital Partners "represents a substantial discount to the fair value of ClearView Wealth, said GPG, which owns about 48 percent of the ASX-listed financial services firm. Crescent is seeking at least half of ClearView, saying its offer represents 8 percent premium to ClearView's th...

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