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18 May 2012

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Achilles still 23% short of Brit approval threshold

31 January 2011

Brit has continued its steady drip of announcements extending the offer period for Achilles and revealed that its potential buyers still need another 22.6 percent of shareholders to approve the deal.

The Lloyd's (re)insurer today (31 January) said that the offer will now remain open until 5 February - and suggested that it will be forced to extend the period yet again.

The UK Takeover Code stipulates that an official offer period is limited to a 60-day window. However, with...

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