Tower may need to pay a $2 million 'break fee' to Fairfax
Tower's board is backing the increased takeover bid from Suncorp, which trumps the previous offer from Fairfax Financial.
Tower may need to pay Canada's Fairfax Financial Holdings a $1.97 million break fee after its board backed a rival bid from Suncorp Group-owned Vero Insurance New Zealand.
The Auckland-based insurer has signed a scheme implementation agreement with ASX-listed Suncorp, in which local subsidiary
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Calida Smylie
Wed, 28 Jun 2017
Wed, 28 Jun 2017
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Tower may need to pay a $2 million 'break fee' to Fairfax
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