QBE pushes the limit
QBE Insurance has made a second tilt at British insurance group Limit, with a $900 million cash offer.
QBE Insurance has made a second tilt at British insurance group Limit, with a $900 million cash offer.
Limit immediately rejected the cash bid as significantly undervaluing the company.
QBE says it decided to make the offer following support from a number of Limit's significant institutional shareholders.
The Australian company's proposal for a friendly merger with Limit in August last year was publicly rebuked by the Limit board, forcing QBE to beat a hasty retreat.
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