Disappointing 90c
Market obviously is more concerned about the capital raise and the likelihood that Vero will be unsuccessful.
Printable View
And Tower joining in with the appeal. I'd see this and think the share price would move, but not on recent events.
TOWER LODGES CROSS APPEAL
Tower Limited (NZX/ASX: TWR) advises that it has now lodged its own cross appeal against the Commerce Commission’s decision to decline Vero’s application to acquire 100% of Tower.
As previously advised, Tower’s Board fully supports Vero with its appeal. As this matter is now before the courts, no further comment will be made.
ENDS
Vero out completely now and is not appealing. Very strange. What was the point of them appealing in the first place? Seems they have wanted to screw Tower over a bit in this whole exercise.
Getting into buy territory - could be a nice value play. Surely their TradeMe tie up is producing results. Will try and look to see how its going.
I wouldn't imagine that they would sell the ones they own. Wouldn't make sense.
So whats their play with the shares they own, will they just leave them languishing in their books or wait for the next potential buyer and cut a deal?
The commerce commission is still investigating Vero's purchase of 19.9% separate from the takeover offer.
D day for Tower shareholders tomorrow
http://www.nzherald.co.nz/business/n...ectid=11943510