TWR - Tower Insurance.

[Balance]

Fingers crossed as that would see me break even!

Disappointing 90c

Market obviously is more concerned about the capital raise and the likelihood that Vero will be unsuccessful.

[Fatboyj]

And Tower joining in with the appeal. I'd see this and think the share price would move, but not on recent events.

TOWER LODGES CROSS APPEAL
Tower Limited (NZX/ASX: TWR) advises that it has now lodged its own cross appeal against the Commerce Commission’s decision to decline Vero’s application to acquire 100% of Tower.
As previously advised, Tower’s Board fully supports Vero with its appeal. As this matter is now before the courts, no further comment will be made.
ENDS

[JeremyALD]

Vero out completely now and is not appealing. Very strange. What was the point of them appealing in the first place? Seems they have wanted to screw Tower over a bit in this whole exercise.

[Schrodinger]

Getting into buy territory - could be a nice value play. Surely their TradeMe tie up is producing results. Will try and look to see how its going.

[JeremyALD]

Have Vero flogged off the 20% stake they purchased ?
And if not, is that stake a market overhang? Or a spoiler to prevent someone else sniffing around?

Who knows but they certainly haven't sold any yet.... There's hardly any volume going through.

[Lewylewylewy]

I wouldn't imagine that they would sell the ones they own. Wouldn't make sense.

[Fatboyj]

So whats their play with the shares they own, will they just leave them languishing in their books or wait for the next potential buyer and cut a deal?

[Scrunch]

So whats their play with the shares they own, will they just leave them languishing in their books or wait for the next potential buyer and cut a deal?

Not sure but given the purchase price there's some ugly red ink if they need to be marked back to market through vero's p&l.

[Baddarcy]

The commerce commission is still investigating Vero's purchase of 19.9% separate from the takeover offer.

[Jim]

The commerce commission is still investigating Vero's purchase of 19.9% separate from the takeover offer.

D day for Tower shareholders tomorrow
http://www.nzherald.co.nz/business/n...ectid=11943510