TWR have received an offer from Fairfax of Canada a company that has been built on acquisitions of many insurance companies world wide. Not a word since the initial announcement of an offer of NZ $1.17 of any progress - are they still in the race? Shareholders need a statement from TWR as to Fairfax's interest.
Then there is Verio a subsidiary of Suncorp Australia who has purchased or has options to purchase 19.99% of the share holding of TWR but no further statement of interest to proceed with a takeover and no comments from the directors of TWR . Is this just a blocking stake with no plan to move to a full takeover of TWR @NZ$1.40?
The directors should be actively engaged with both parties to understand their position and willingness to proceed with an offer for TWR
TWR Price at posting:
$1.13 Sentiment: Hold Disclosure: Held
