Takeover battle eyed for Tower
A takeover battle for Tower could be emerging, after the Suncorp-backed Vero Insurance launched an on-market bid to take 20 per cent of the New Zealand listed company.
The Canadian firm, Fairfax Financial Holdings, launched a $197 million bid for Tower in early February which was supported by the board and major shareholders.
Suncorp’s decision to enter the market comes just a week after chief executive Michael Cameron revealed a review into the Queensland bank’s life insurance division was underway.
Add your comment to this story
Tourism roll-up play could prove lucrative for private equity
A strategic roll-up of tourism assets could be a potential pathway to attract super funds or other private equity buyers.
Healthscope bidding deadline set as receivers plan rescue strategy
Industry experts say up to 15 hospitals could close in the wake of the $4.4bn Healthscope’s collapse, as Catholic providers and private equity firms circle for the troubled assets.
To join the conversation, please log in. Don't have an account? Register
Join the conversation, you are commenting as Logout