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SYDNEY, Australia (Reuters)—Australia Insurance Group on Tuesday rejected a takeover proposal by rival Australian insurer QBE Insurance Group Ltd., saying it was too low. Australia's top insurer by premium income, QBE is offering $8.7 billion Australian ($8.2 billion) in cash and shares for...
Full Coverage:
[$$] QBE Drops Bid for IAG But Has Room to Reoffer (at The Wall Street Journal Online)
By Rebecca Thurlow and Bill Lindsay Word Count: 290 | Companies Featured in This Article: QBE Insurance Group, Insurance Australia Group SYDNEY, Australia -- QBE Insurance Group Ltd. withdrew its A$8.7 billion (US$8.34 billion) takeover proposal for Insurance Australia Group Ltd. after IAG...
QBE Drops Bid for IAG
By Rebecca Thurlow and Bill Lindsay Word Count: 290 | Companies Featured in This Article: QBE Insurance Group, Insurance Australia Group SYDNEY, Australia -- QBE Insurance Group Ltd. withdrew its A$8.7 billion (US$8.34 billion) takeover proposal for Insurance Australia Group Ltd. after IAG...
QBE abandons A$8.7bn move for IAG
Australia’s largest insurance takeover battle appeared to end on Wednesday after QBE abandoned its A$8.7bn move for Insurance Australia Group. Shares in IAG fell nearly 6 per cent after QBE, Australia’s largest insurance group, dropped its proposal after failing to win a board recommendation. IAG...
IAG 'has questions to answer' over QBE knock-back
Some analysts are expecting Insurance Australia Group's (IAG's) board to come under pressure to explain in depth why it rejected QBE's takeover offer. IAG has knocked back the $9 billion bid on the grounds it does not reflect the value of the company. QBE has now withdrawn the offer and says it...
Australia's QBE drops 8.35 billion US takeover bid for IAG
SYDNEY (AFP) - Australian-listed global insurance group QBE Insurance said Wednesday it had withdrawn an 8.7 billion (8.35 billion US) dollar takeover bid for Insurance Australia Group (IAG). QBE said its had dropped its merger proposal after the IAG board late Tuesday rejected a sweetened...
Australia's QBE drops 8.35 billion US takeover bid for IAG (AFP)
SYDNEY (AFP) - Australian-listed global insurance group QBE Insurance said Wednesday it had withdrawn an 8.7 billion (8.35 billion US) dollar takeover bid for Insurance Australia Group (IAG). QBE said its had dropped its merger proposal after the IAG board late Tuesday rejected a sweetened...
Australia's QBE drops 8.35 billion US takeover bid for IAG
Sydney's iconic Opera House with the city skyline behind where a massive insurance deal has fallen through SYDNEY (AFP) - Australian-listed global insurance group QBE Insurance said Wednesday it had withdrawn an 8.7 billion (8.35 billion US) dollar takeover bid for Insurance Australia Group...
Australia insurer IAG rejects A$8.7 bln QBE offer
SYDNEY, May 20 (Reuters) - Insurance Australia Group (ASX: IAG.ax) on Tuesday rejected a takeover proposal by rival Australian insurer QBE Insurance Group Ltd (ASX: QBE.ax) , saying it was too low. QBE, Australia's top insurer by premium income, is offering A$8.7 billion ($8.2 billion) in cash...
Australia insurer IAG rejects A$8.7 bn QBE offer
SYDNEY: Australia Insurance Group said it cannot recommend a takeover proposal by fellow Australian insurer QBE Insurance Group Ltd, saying it was inadequate. QBE, Australia's top insurer by premium income, is offering A$8.7 billion ($8.2 billion) in cash and shares...
Australia insurer IAG rejects A$8.7 bln QBE offer
SYDNEY, May 20 (Reuters) - Australia Insurance Group (IAG.AX: ) on Tuesday rejected a takeover proposal by rival Australian insurer QBE Insurance Group Ltd (QBE.AX: ), saying it was too low. Australia's top insurer by premium income, QBE is offering A$8.7 billion ($8.2 billion) in cash and shares...
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