Vero to appeal regulator's rejection of Tower takeover

Tue, 22 Aug 2017

By Paul McBeth Aug. 23 (BusinessDesk) - Suncorp Group's Vero Insurance unit will appeal the Commerce Commission's rejection of its $236 million takeover bid for Tower, and has the backing of the NZX-listed general insurer's board. Auckland-based Tower has been told by Vero that its suitor plans to appeal the regulator's decision and will push for a hearing before the end of the year, it said in a statement. Chairman Michael Stiassny said the appeal has the "full support" of Tower's board, and that the NZX-listed company plans to file its...

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