Remember Goldman Sachs is doing its thing to unlock shareholder value... maybe the chess pieces are starting to move. If a takeover comes its going to have to be $1.50+ offer
Tower Limited (NZX/ASX: TWR) advises that it is undertaking a strategic review of its ownership structure.
The purpose of the review - which is supported by 20% shareholder Bain Capital - is to explore options to maximise value for all Tower shareholders and optimise its capital structure to provide a strong platform for market competitiveness. Tower has engaged Goldman Sachs New Zealand Limited as financial adviser to assist with the strategic review.
Tower Chairman, Michael Stiassny commented on the strategic review saying, "In our commitment to delivering long-term value to our shareholders, we believe that a thorough examination of our ownership structure is prudent at this time. This strategic review will enable us to explore options that align with our objectives and position us for continued success in the marketplace."
can also mean mergers or partnerships or aquisitions or buybacks etc as well to enhance long term value for s/h
I actually think the next upleg catalyst will be its addition to the Income Portfolios of the major brokers. Given the number of NZX companies reducing or axing dividends, this might only be another quarter away.
I actually think the next upleg catalyst will be its addition to the Income Portfolios of the major brokers. Given the number of NZX companies reducing or axing dividends, this might only be another quarter away.
buyback at full yr would give them even more room for future higher div's.
on there forecasts for 25,26 based on there 60 - 80% payout ratio substantially higher than now if results met.
Tower and Kiwibank sign referral agreementKiwi insurer Tower (NZX/ASX: TWR) announces it has entered into a referral agreement for general insurance products with Kiwibank for its retail banking customers. The agreement is for an initial term of five years.Under this arrangement, Kiwibank customers choosing to insure with Tower will insure their assets directly with Tower via Tower branded policies.Tower CEO, Blair Turnbull says, “We’re thrilled about the opportunity to welcome Kiwibank customers to Tower and to be joining forces with another Kiwi born and bred business.“This referral agreement presents a strategic opportunity for Tower and aligns with our focus on growing our home insurance portfolio.”Kiwibank Chief Executive Steve Jurkovich says, “We’re excited about entering this new partnership with Tower and to be able to support our customers to have the right protection in place which goes to the heart of our purpose of Kiwi making Kiwi better off.”Tower has referral agreements in place with several other New Zealand organisations, including the Kiwi Adviser Network, New Zealand Financial Services Group and Trade Me, among others. These relationships have introduced more New Zealanders to Tower products.No regulatory approvals are required to proceed under the agreement
Originally Posted by Rawz
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