Achilles Brit offer goes unconditional at 80%
Achilles, the acquisition vehicle for Apollo and CVC's takeover of Brit Insurance, has made its offer of up to 1,100p per Brit share unconditional after it lowered its acceptance threshold to 80 percent.
Previously, Achilles had said that the deal would go unconditional if 95 percent of the shareholding accepted the bid.
The private equity vehicle stated it had acceptances representing 81.23 percent of Brit's issued share capital.
It made the stock exchange announcement a day after the deal received...
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