Tower tumbled as stormy weather knocked its first half.
The company’s Destination 2030 strategy, targeting $530m in revenue, is ‘on track’.
The regulator is not satisfied that a sale of the business to the owners of Godfrey Hirst would not substantially lessen competition.
Heavily discounted rights issue halves Briscoe holding.
Proceeds will be used to facilitate a bank refinancing, with Fraser and Neave backing the raise.
However, the diversified agri business expects it can mitigate the impact.
And ASX-listed Cuscal is buying Paymark for A$27 million.
The listed jeweller is slimming down to focus on its two main brands.
Qantas had already announced cuts to Jetstar New Zealand flights due to the Middle East conflict.
Disclosure follows Australian media report revealing Adamantem Capital as a potential buyer.