Business Services Industry
QBE's leap of approval.
Australasian Business Intelligence, December, 2006
Byline: Eric Johnston
Dec 14, 2006 (The Australian Financial Review - ABIX via COMTEX) -- Investors and analysts have responded positively to the latest acquisition by QBE Insurance Group. The Australian-listed insurer's shares closed $A2.48 higher at $A28.78 on 14 December 2006. The spike followed QBE's announcement that it will pay $US800m ($A1.015bn) for Praetorian Financial Group. Goldman Sachs JBWere describes the price as "extremely attractive" for QBE shareholders. QBE's earnings forecasts have been upgraded by over 10 per cent by some analysts.
Publication Date: 15 December 2006
QBE INSURANCE GROUP LIMITED - ASX QBE
PRAETORIAN FINANCIAL GROUP INCORPORATED
GOLDMAN SACHS JBWERE PTY LTD
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