IAG rejects QBE's sweetened $8.7b bid
May 20, 2008
Insurance Australia Group Ltd's board says it cannot recommend QBE Insurance Group Ltd's "inadequate and incomplete" revised $8.7 billion proposal.
Insurance Australia Group rejects takeover offer from QBE Insurance
The board of Insurance Australia Group Ltd. said Tuesday it will not recommend to shareholders the 8.7 billion Australian dollar (US$8.4 billion; €5.3 billion) takeover proposal from rival QBE Insurance Group Ltd., terming it inadequate and opportunistic.
Insurance Australia Group rejects QBE buyout bid; takeover tussle looms
Insurance Australia Group has rejected a 7.4 billion Australian dollar (US$6.8 billion; €4.3 billion) unsolicited bid from rival QBE Insurance Group Ltd. as inadequate, the companies said Tuesday.
IAG rejects QBE merger offer: 'too low'
Insurance Australian Group has rejected a $7.45 billion takeover offer from rival QBE Insurance Group as too low.
Takeover tussle looms between QBE and...
Insurance Australia Group has rejected a $7.55 billion offer from QBE Insurance Group in what investors say may be the start of a takeover battle.
Merrill says good 'buy' to QBE
QBE Insurance is unlikely to have another tilt at Insurance Australia Group and there are plenty of other companies for it to buy, a broker says.
QBE extends IAG takeover proposal time
QBE Insurance Group has extended its multi-billion dollar proposal to acquire rival Insurance Australia Group by another week.
IAG rejects offer for QBE
QBE Insurance Group says it approached Insurance Australian Group last week about a possible merger, but has been rebuffed by the target.
QBE says it approached IAG about merger
QBE Insurance Group says it approached Insurance Australian Group about a possible merger, but has been rebuffed.
Insurance Australia Loses Its Head (CEO)
Chief Executive Michael Hawker steps aside, following the auto and home insurer's dimming outlook and much crtiicism, having spurned a rich takeover bid from QBE Insurance Group.
Insurance Australia Group rejects QBA merger bid; takeover tussle looms
QBE Insurance Group Ltd. on Tuesday revealed a 7.4 billion Australian dollar (US$6.8 billion; €4.3 billion) bid for rival Insurance Australia Group, which quickly rejected the offer.
QBE sweetens takeover offer for IAG
QBE Insurance Group has sweetened its takeover offer for IAG but says the target has indicated it thinks the fresh bid is still too low.
05/19/08
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QBE 'unaware' of takeover approach
QBE Insurance shares jumped as much as 10 per cent on Thursday on media speculation the global insurance giant could be a takeover target.
IAG rejects QBE's "final" offer
Insurance Australia Group, fending off a hostile $8.7 billion takeover from QBE Insurance Group, said it won't recommend the offer as it is too low.
QBE withdraws takeover proposal for IAG
QBE Insurance Group has withdrawn its sweetened $8.7 billion takeover proposal for Insurance Australia Group.
QBE extends IAG proposal to May 19
QBE Insurance Ltd has extended the offer period for its proposed merger with Insurance Australia Group Ltd by two weeks.
IAG feels the heat as rival circles
INSURANCE Australia Group has released a badly timed profit downgrade as it attempts to fend off an aggressive $7.9 billion takeover proposal from a rival, QBE Insurance Group.
Australia's QBE drops 8.35 billion US takeover bid for IAG (AFP)
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).
Insurance Australia Plays Hard To Get
The home and auto insurer says that takeover approach from the country's largest property insurer, QBE, undervalues company at a down moment in the business cycle.
QBE extends IAG takeover offer
QBE Insurance says it has extended a takeover offer for smaller rival Insurance Australia Group to May 5.
IAG bid deadline extended
QBE Insurance is persisting with its merger tilt at its fellow insurer Insurance Australia Group, pushing back the deadline on its proposed scheme of arrangement for another...
IAG says QBE takeover not a given
Insurance Australia Group Ltd (IAG) chairman James Strong says it is not certain that QBE Insurance Group Ltd, or anyone else, will buy the company.
QBE Makes Bid for IAG
QBE Insurance Group said it made a $6.88 billion takeover proposal to Insurance Australia Group, which was rejected by the IAG board.
IAG chief falls on sword
IAG chief Michael Hawker has resigned amid shareholder anger over the insurer's rejection of QBE's $8.7b offer.
Trades in QBE under $22.20 cancelled
Trades in QBE Insurance shares were cancelled on Wednesday afternoon by Australian Securities Exchange, after the validity of the activity was questioned.