February 21, 2017 / 7:41 PM / 5 months ago

BRIEF-Tower notes Suncorp unsolicited off-market share offer

1 Min Read

Feb 22 (Reuters) - Tower Ltd :

* Tower notes Suncorp unsolicited off-market share offer

* Suncorp Group acting through UBS, have approached shareholders seeking to initially buy up to a 19.99% stake in Tower

* Offer at a fixed price of NZ$1.30 per share, with a view to escalating the offer to 100% of all shares

* Board also reiterated that Tower insurance policies and the rights of policy holders remain unaffected

* All policies and rights will remain with Tower Insurance Limited in event of a change in ownership of Tower Limited

* Tower Chairman Michael Stiassny says board's advice to shareholders was to seek advice and not to sell their shares until board had fully reviewed offer Source text for Eikon: Further company coverage:

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