I was about to deliver the same line; a very rational response from an IAG owner.
Yes, QBE can pay $4.75 but why would they? I would much prefer that QBE walk away. The insurance cycle is bottomed or close to (speaking with one respected Australian ceo) but retrospectively policies already written havnt yet gone through the cycle (for short tail) and long tail will take years to really find out just how bad things really are.
The key is the culture and management. One side just doesnt have the goods at a premium price.
iag rejects qbe take over, page-79
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Last
$7.11 |
Change
-0.030(0.42%) |
Mkt cap ! $16.85B | |||
| Open | High | Low | Value | Volume |
| $7.18 | $7.25 | $7.06 | $47.59M | 6.688M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 8456 | $7.11 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $7.12 | 49223 | 3 |
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| Last trade - 16.10pm 01/07/2024 (20 minute delay) ? |
| IAG (ASX) Chart |