Insurance

Tower ices Fidelity bid

Thursday 28th of October 2010

Tower chairman Tony Gibbs said the company will let its $82-a-share offer of cash and stock lapse at the end of the month after Fidelity wasn't forthcoming in providing new information to Tower.

The target signalled its unease with the offer, calling it "unhelpful" and "inappropriate", and said it was uncomfortable giving company details to a rival.

"There are matters raised in (F...

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