TWR - Tower Insurance.

**golden city** · 06-03-2018, 10:17 PM

I am picking it will cross 80c too this week. Could be 85

**Balance** · 08-03-2018, 10:59 AM

https://www.nzx.com/announcements/315272

Huge development - Vero out and Bain Capital Credit in.

**Balance** · 08-03-2018, 11:05 AM

Famous last words from Vero (Suncorp) less than a month ago!

http://www.sharechat.co.nz/article/9...rm-holder.html

Headline : "Suncorp In No Rush To Ditch Tower Stake"

**Balance** · 08-03-2018, 11:33 AM

https://www.nzx.com/announcements/315274

Sold to Bain Capital Credit at 80c per share.

Takeover offer coming, me thinks ....

**JeremyALD** · 08-03-2018, 11:48 AM

To sell 20% of your stake at a premium to the current SP is very encouraging for shareholders. Glad I have a little stake in this gem. They've done really well fighting through a lot of events beyond their control

**bull....** · 08-03-2018, 11:55 AM

another impediment gone just the chch legacy left , once thats sorted i reckon they be taken over again .. kept a very small parcel from 42c raising

**alistar_mid** · 08-03-2018, 02:22 PM

Originally Posted by golden city

I am picking it will cross 80c too this week. Could be 85

lol good call, wonder if I should get out I'm sitting on +38%

**rmnz** · 08-03-2018, 03:27 PM

Decisions decisions, I'm on a 48% gain at the moment (admittedly on a relatively small holding)

**Balance** · 08-03-2018, 04:53 PM

Originally Posted by bull....

another impediment gone just the chch legacy left , once thats sorted i reckon they be taken over again .. kept a very small parcel from 42c raising

Certainly takes away a huge road block for Tower - market had some expectations that Vero was going to be forced by the Commerce Commission to sell its 19.9% stake.

Overhang is out of the way and the shares have gone to a very good home!

Check into Bain Capital Credit background and it gives a lot of confidence that either Tower will be taken over or with Bain as a cornerstone shareholder, Tower will do very well indeed!