Apollo’s chances of landing Brit put at 50/50
The £800mn+ Brit Insurance-Apollo buy-out deal is balanced on a knife-edge, with a 50 percent chance that it will collapse, according to London-based stockbroker Jefferies.
Analysts at Jefferies released their inaugural coverage of five London-quoted specialist (re)insurers - Amlin, Brit, Catlin, Hiscox and Lancashire - and their attitude towards the sector is broadly upbeat.
Nevertheless, analysts Nick Pope and James Shuck are sceptical on the prospects for merger and acquisitions (M&A) and bearish on takeout target Brit.
"Brit's shares are...
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