Achilles passes 95% Brit squeeze-out mark
Private equity acquisition vehicle Achilles is to commence "squeeze-out" proceedings against the remainder of Brit's investors after it secured approval for its takeover offer from more than 95 percent of the shareholding.
Earlier this month the Apollo and CVC-owned bid vehicle went wholly unconditional on its 1,100p per share bid for Brit, which is worth roughly £880mn in total.
Achilles said this morning (24 March) that it has now received acceptances from shareholders representing 97.86 percent of share capital. In...
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