News

Tower becomes the hunter

Wednesday 3rd of March 1999
Tower Corporation has, today, moved from being the hunted to the hunter. It has announced a cash takeover bid of FAI Life in Australia.
Its conditional offer of A$1.50 a share values FAI at A$195 million and is a premium of 9.5 per cent on the march 2 closing price of FAI's shares.
Tower managing director James Boonzaier says the bid is "fair" and he is confident it will be accepted.
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