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ASB Bank makes offer for Sovereign
Thursday 8th of October 1998
ASB Bank has, as predicted, made a $235 million offer for financial services group Sovereign.
The offer at $2.25 cash for each Sovereign share, places a value of $235 million on the business, however it is 7c less than yesterday's closing price.
The offer is being made by one of the bank's subsidiary companies, ASB Life Insurance, and it is open until early December.
Also, the...
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