Fairfax offers 48% premium for Tower
UPDATED: Board and major shareholders support Canadian takeover.
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Hawke’s Bay
Canadian insurer Fairfax Financial has offered to buy 100% of NZX-listed Tower for $1.17 a share, a 48% premium to Tower’s closing price yesterday.
The proposal, valuing Tower at $197 million, is recommended unanimously by Tower’s board and supported by its major shareholders Salt Funds
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Tim Hunter
Thu, 09 Feb 2017
Thu, 09 Feb 2017
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Fairfax offers 48% premium for Tower
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