Monday 6th October 2008 |
Text too small? |
Brisbane-based Suncorp hired Lazard Carnegie Wylie and UBS to assess the proposals, it said in a statement today. Its shares rose 6.3% to A$11.35 and have declined 48% in the past 12 months.
The insurer's stock climbed about 11% on Thursday and Friday amid reports it had been approached by some of Australia's biggest banks. Suncorp may be more vulnerable to a takeover after posting a 50% drop in full-year profit on increased claims and the impact of the global credit squeeze.
The approaches were "preliminary" and may not lead to a formal offer, Suncorp said today.
No comments yet
Fonterra appoints permanent COO
Manawa Energy FY24 Annual Results & Webcast Details
Seeka Provides the Results of Meeting - ASM
April 19th Morning Report
PGW Guidance Update
CNU - Commerce Commission releases draft expenditure decision
Spark announces departure of Product Director
TGG - T&G appoints new Director
April 18th Morning Report
SKC - APPOINTMENT OF CHIEF EXECUTIVE OFFICER