
IAG rejects QBE's latest takeover bid
The insurer’s board said it could not recommend the proposal as it was priced opportunistically and was not a fully developed offer or bid.
In a statement it said: “The latest QBE proposal on Friday, 16 May 2008 of 0.145 QBE shares and 90 cents cash per IAG share equals $4.60 per IAG share. This represents a premium of only 10% based on the price of IAG and QBE shares the day before the announcement of discussions. IAG considers a 10% premium is insufficient given IAG’s value and the
Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
To access these options, along with all other subscription benefits, please contact [email protected].
You are currently unable to print this content. Please contact [email protected] to find out more.
You are currently unable to copy this content. Please contact [email protected] to find out more.
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. Printing this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/
If you would like to purchase additional rights please email [email protected]
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. Copying this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/
If you would like to purchase additional rights please email [email protected]
More on Broker
Videos/Podcasts
Insurance Covid-Cast: How has staff productivity been impacted by remote working?
For the 35th episode of Post and Insurance Age’s video series we gathered together a panel of senior insurance managers to discuss how productive staff have been since Covid-19 lockdown, and whether it has changed as restrictions have eased?
Subscribe to our daily newsletter for all the latest news
Most read
- Insurers urged to pay claims quickly following BI ruling
- FCA orders insurers to pay claims swiftly following Supreme Court ruling
- Aviva confirms office closures amid restructure
- Aviva’s Patrick Tiernan moves to Lloyd’s
- Supreme Court rejects insurers' appeals in BI test case judgment
- The Insurance Age Deal Tracker
- Blog: The broker fallout from the Supreme Court BI ruling