February 8, 2017 / 11:47 PM / 8 months ago

BRIEF-Fairfax Financial to acquire Tower Ltd

Feb 9 (Reuters) - Tower Ltd -

* Fairfax Financial to acquire Tower

* Deal for all cash offer of $1.17 per tower share, for an aggregate acquisition cost of $197 million

* Offer unanimously supported by tower board, in absence of a superior proposal

* Each tower director has undertaken to vote all tower shares in his control in favour of fairfax proposal

* Board also confirms that fairfax proposal does not impact tower insurance policies and rights of policy holders

* Two of tower’s major shareholders, salt funds management and acc committed to vote in favour of fairfax proposal

* All figures in nz$ Source text for Eikon: Further company coverage:

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