Insurance

Fidelity counter-bid offers a few dollars more

Thursday 10th of May 2007
Karl Trotter, whose family trust owns over 20,000 Fidelity shares, has sent a letter to the insurance company’s shareholders offering $75 per share.

Trotter said FMG was issued Fidelity shares valued at $72 per share in February as part payment for its life insurance arm but that price “did not reflect the true value of the company”.

“On the face of it $72 might seem high but it undervalue...

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