QBE withdraws takeover proposal for IAG
May 21, 2008
QBE Insurance Group has withdrawn its sweetened $8.7 billion takeover proposal for Insurance Australia Group.
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 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.
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 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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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AFP - Australian-listed global insurance group QBE Insurance said Wednesday it had withdrawn an 8.7 billion (8.35 billion US) dollar takeover bid for Insurance Australia Group (IAG).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 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's sweetened $8.7b bid
Insurance Australia Group Ltd's board says it cannot recommend QBE Insurance Group Ltd's "inadequate and incomplete" revised $8.7 billion proposal.
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.
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QBE extends IAG proposal to May 19
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IAG rejects QBE's "final" offer
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QBE buys PMI units for $1b
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Insurance Australia Group rejects QBA merger bid; takeover tussle looms
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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.
IAG boss Michael Hawker resigns
Insurance Australia Group's chief executive Michael Hawker has resigned just days after the insurer knocked back a $8.7b takeover bid by QBE Insurance Group.
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.
QBE extends IAG takeover offer
QBE Insurance says it has extended a takeover offer for smaller rival Insurance Australia Group to May 5.
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.