TWR - Tower Insurance.

"Suncorp is seeking to acquire all Tower shares not already held by Vero at NZ$1.40 per share."

Anyone know what this means, all shares held by Tower or shares held by all investors?

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Originally Posted by Arbroath

Suncorp firms up at $1.40....as long as Comcom play ball the ball is back in Fairfax's court

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Especially now that we are talking about post due diligence offers. Any due diligence done properly would have looked at the Christchurch earthquake provisioning. The offer price didn't drop having done that which is good.

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Originally Posted by Arbroath

Suncorp firms up at $1.40....as long as Comcom play ball the ball is back in Fairfax's court

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The Commerce Commission was yelled at loudly by the comentariat for approving the IAG/AMI takeover. Might the CC now be gun shy over insurance takeovers?

Would it be prudent to sell to the market at current prices to de-risk the CC spoiling the party?

Boop boop de do
Marilyn

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Originally Posted by Marilyn Munroe

The Commerce Commission was yelled at loudly by the comentariat for approving the IAG/AMI takeover. Might the CC now be gun shy over insurance takeovers?

Would it be prudent to sell to the market at current prices to de-risk the CC spoiling the party?

Boop boop de do
Marilyn

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I dont think Com Com will reject this one. IAG have 46% so allowing Vero to have 30% (incl Tower) wouldnt seem inconsistent. And its arguable that having the Tower business backed by a major player will make the consumers better off in terms of the strength of their insurer. Although together the two Aussie firms will have 76% so that is quite dominant .....

I am surprised by the 7c discount though so some people must agree with you MM. But I reckon it will be let through. I personally would wait and get the $1.40 unless the funds were needed in a hurry.

Quote:

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Originally Posted by Marilyn Munroe

The Commerce Commission was yelled at loudly by the comentariat for approving the IAG/AMI takeover. Might the CC now be gun shy over insurance takeovers?

Would it be prudent to sell to the market at current prices to de-risk the CC spoiling the party?

Boop boop de do
Marilyn

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Why there's a 5% discount (risk premium) left in the sp.

Think myself CC will let the takeover through - precedent has been set and NZ is a land of duoploies anyway - be it beer, airline, building products, supermarkets, banking (Oz vs Kiwibank) etc etc.

Anyone taking a stab at this one? Current SP $1.27. annoucement due next Wednesday. Stand to make 10% in one week if the Commerce Commission pass it.

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Originally Posted by JeremyALD

Anyone taking a stab at this one? Current SP $1.27. annoucement due next Wednesday. Stand to make 10% in one week if the Commerce Commission pass it.

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I think I'll get passed if the CC are consistent with past rulings....

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Originally Posted by JeremyALD

Anyone taking a stab at this one? Current SP $1.27. annoucement due next Wednesday. Stand to make 10% in one week if the Commerce Commission pass it.

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Agree nice little arbitrage opportunity for the brave...

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Originally Posted by tim23

Agree nice little arbitrage opportunity for the brave...

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Declined

https://nzx.com/companies/TWR/announcements/304511

Merger declined. Definitely wasn't expecting that.