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.
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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
© All content copyright NBR. Do not reproduce in any form without permission, even if you have a paid subscription.
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Tower may need to pay a $2 million 'break fee' to Fairfax
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