UPDATE: Vero drops takeover appeal after Tower terminates agreement

Tue, 07 Nov 2017

(Recasts on Vero appeal, share drop and updates share price) By Paul McBeth Nov. 7 (BusinessDesk) - Suncorp Group-owned Vero Insurance has ditched a planned appeal of a rejected takeover bid for Tower after the New Zealand insurer terminated their arrangement. The shares dropped. Auckland-based Tower terminated a scheme implementation agreement with Vero after the deal passed its end date, but has told the Australian insurer it's willing to discuss new terms once it has raised capital. The $236 million takeover was blocked by the Comm...

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