TWR - Tower Insurance.

[Balance]

There is an appeal process - this is not the end game.

Bought some at 90c for a play.

Am expecting Vero to announce that they are appealing. Share price then expected to go back to $1.00 to $1.05.

Wish me good fortune!

[hardt]

Im so glad, really impressed with the COMCOM of late - more competition is better for everyone

Engineered competition does nothing for the market as a whole, VERO and Tower are already co-operating together in a way that no one could assume to be competitive... the merger was not to drive competition down but to drive efficiency through economies of scale, consolidating expenses between the two entities and move into a full range of coverage.

Sent a query to Vero to insure a turbo car of mine for the weekends, somehow my query found its way to Tower as I then received a quote from them over the phone claiming Vero does not offer that sort of cover...

For eff sake, let a free market be free, you can penalise those who do wrong once they do wrong...

Comcom is full of anointed intellectuals who have far too much power... seeing as an appeal would cost millions of dollars and take up to a year, where is the real oversight coming from?

I don't even hold TWR and I am livid

[peat]

https://www.nbr.co.nz/article/comcom...corp-th-205698

Looks well reasoned to me.

Fairfax could very well reappear as a buyer?

They have all the paperwork done, but it wouldnt be hard to change the price. It would be effectively charity to keep the bid at their previous level.

[winner69]

Four down to three players OK, three down to two a step too far says CC man

http://www.interest.co.nz/insurance/...s-chairman-why

[JeremyALD]

They have all the paperwork done, but it wouldnt be hard to change the price. It would be effectively charity to keep the bid at their previous level.

I don't agree with this. The SP was 80 cents when they made their $1.17 offer and there were no other offers. What difference does it make that Vero was declined. The $1.17 offer was 23 cents below Vero's offer. I doubt Tower shareholders would accept much less. The company still has a strong underlying business that maybe in a few years will be done with the earthquake claims and be well ahead of where it is today.

[peat]

I don't agree with this. The SP was 80 cents when they made their $1.17 offer and there were no other offers. What difference does it make that Vero was declined. The $1.17 offer was 23 cents below Vero's offer. I doubt Tower shareholders would accept much less. The company still has a strong underlying business that maybe in a few years will be done with the earthquake claims and be well ahead of where it is today.

I note Phillips Capital have suggested fair value at 80c, and highlighted no moat, no dividend , a commoditised product, the risk of a capital raising, Chch legacy liabilities and in general agreed with the report i wrote and distributed last week.

However they did mention the full version of the Com Coms decision has still not been released. So any interested parties are still waiting for the detail before they form their view and their response.

[winner69]

You guys might be interested in this

http://www.interest.co.nz/insurance/...-consider-what

[Fatboyj]

Bought some at 90c for a play.

Am expecting Vero to announce that they are appealing. Share price then expected to go back to $1.00 to $1.05.

Wish me good fortune!

You have chosen, wisely, I think

Vero to Appeal Commerce Commission Decision

https://www.nzx.com/companies/TWR/announcements/305937

[Balance]

You have chosen, wisely, I think

Vero to Appeal Commerce Commission Decision

https://www.nzx.com/companies/TWR/announcements/305937

Glad they made this decision before any capital raise!

Hopefully will see $1.05

[JeremyALD]

Glad they made this decision before any capital raise!

Hopefully will see $1.05

Fingers crossed as that would see me break even!