NIB warns shareholders of low-ball share offer from Share Buying Group 22 Nov 2007 - NIB Holdings is warning its shareholders of an unsolicated offer by Share Buying Group to buy their shares at below-market price. Share Buying Group is offering $0.61 per nib share, a price 51% below nib’s closing share price of $1.20 on 22 November 2007. The managing director of NIB Holdings, Mr Mark Fitzgibbon, says "nib shareholders who accept the unsolicited offer will be at a significant financial disadvantage relative to what they would obtain if they sold their shares on-market".

While not illegal, these low-ball offers target the unwary and uninformed shareholders who have no idea of the true market value of their shares.

Share Buying Group has in the past made low-ball offers for shares in other companies, mimicking the conduct of share market opportunist David Tweed.

Source:

NIB Media Release: NIB alerts shareholders of an unsolicited offer for NIB shares
http://www.nib.com.au/About/pdf/nib_alerts_shareholders_of_an_unsolicited_offer_for_nib_shares_221107.pdf

Other related articles:

Tweed's Colonial targets Axa investors
http://www.tradersnetwork.org/intelligence/content/view/1403/51/ 

AMP warns shareholders to avoid below market offers
http://media.corporate-ir.net/media_files/irol/14/142072/asx/Microsoft%20Word%20-%20Unsolicited%20share%20offer%20Oct%2007MR.pdf

Home shareholders approached by Tweed
http://www.smh.com.au/news/Business/Home-shareholders-approached-by-Tweed/2006/09/14/1157827061354.html

Beware of Unsolicited Offers To Buy Your Shares - National Exchange, Country Estate & Agency and Direct Share Purchasing Corp
http://www.tradersnetwork.org/intelligence/content/view/49/51/

The secretive life of a market opportunist
http://theage.com.au/articles/2002/11/08/1036308482798.html

Government promises to restrict Tweed
http://smh.com.au/articles/2002/12/03/1038712936386.html

Buy-on-the-cheap trader stays in business
http://theage.com.au/articles/2003/05/06/1051987702629.html

Tweed attempts to lure Pivot investors
http://theage.com.au/articles/2003/05/08/1052280378748.html

IAG warns: look out for Tweed
http://www.smh.com.au/news/Business/IAG-warns-look-out-for-Tweed/2005/05/31/1117305618473.html

IOOF warns David Tweed is on the prowl
http://www.smh.com.au/news/Business/IOOF-warns-David-Tweed-is-on-the-prowl/2006/09/27/1159337212979.html