I am picking it will cross 80c too this week. Could be 85
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I am picking it will cross 80c too this week. Could be 85
https://www.nzx.com/announcements/315272
Huge development - Vero out and Bain Capital Credit in.
Famous last words from Vero (Suncorp) less than a month ago!
http://www.sharechat.co.nz/article/9...rm-holder.html
Headline : "Suncorp In No Rush To Ditch Tower Stake"
https://www.nzx.com/announcements/315274
Sold to Bain Capital Credit at 80c per share.
Takeover offer coming, me thinks ....
To sell 20% of your stake at a premium to the current SP is very encouraging for shareholders. Glad I have a little stake in this gem. They've done really well fighting through a lot of events beyond their control
another impediment gone just the chch legacy left , once thats sorted i reckon they be taken over again .. kept a very small parcel from 42c raising
Decisions decisions, I'm on a 48% gain at the moment (admittedly on a relatively small holding)
Certainly takes away a huge road block for Tower - market had some expectations that Vero was going to be forced by the Commerce Commission to sell its 19.9% stake.
Overhang is out of the way and the shares have gone to a very good home!
Check into Bain Capital Credit background and it gives a lot of confidence that either Tower will be taken over or with Bain as a cornerstone shareholder, Tower will do very well indeed!