| Publication: | The Australian |
|---|---|
| Date: | 1 November 2008 |
| Section: | Business with The Wall Street Journal |
Article excerpt:
Mark Fitzgibbon was twice beaten to the post by bigger health funds in the rush to take over AHM and Manchester Unity. And this week the boss of the only listed and fifth-largest health insurer in the nation, NIB Holdings, angered shareholders by rejecting a takeover bid by a foreign player, believed to be Discovery Health, a major South African health insurer that is part of the Discovery Group of companies listed on the Johannesburg Securities Exchange.
Discovery has been looking to expand overseas for some time and is particularly keen to establish a toehold in Australia's $11billion consolidating private health industry. Now questions are being asked whether Fitzgibbon will always remain a bridesmaid, never a bride.
