Guinness Peat Group (ASX:GPG) has labelled the $220 million takeover offer for Clearview Wealth Limited (ASX:CVW) as inadequate.
The investment company holds a 47.8 per cent interest in wealth advisory firm Clearview Wealth.
Clearview Wealth yesterday received a conditional cash offer from Crescent Capital Partners Management at an offer price of 50 cents per share.
Guinness Peat booked a net loss of $4.6 million in the 2011 financial year.
