20 Mar 2013

Vector warns against 'lowball' share offers

6:30 pm on 20 March 2013

Vector is warning shareholders about an Australian company making unsolicited or "lowball" offers for shares at considerably less than market value.

Washington Securities is offering Vector shareholders $2 dollars share, nearly 30% below Tuesday's price of $2.82.

Vector chairperson Michael Stiassny is urging shareholders to seek independent advice from their financial adviser.

He says hundreds of Vector shareholders have been caught out by lowball share offers over the past 18 months, and have potentially lost hundreds of thousands of dollars in value collectively.