Publication: The Australian
Date: 29 November 2010
Section: Business with the Wall Street Journal
Related links: Health fund pages: NIB, GMHBA
Article excerpt:
NIB Holdings, Australia's fifth-biggest private health insurer, has urged shareholders in GMHBA to accept its revised $180 million offer. The move comes after Geelong-based GMHBA's board rejected the proposal, as well as an earlier $140 million all-cash bid, without putting it to shareholders. The GMHBA board said the bid undervalued the company and would not enhance the insurance-related interests of its members.
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