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21 May 2012

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£880mn Brit Insurance buy-out to complete on 2 March

16 February 2011

UK regulator the Financial Services Authority (FSA) and Lloyd's have formally approved the proposed Brit Insurance takeover by the private equity duo Apollo and CVC.

Special purpose vehicle Achilles announced that the final date for it to declare its offer unconditional under the UK's 60-day Takeover Code window will be 2 March, having earlier extended the offer timetable once more.

The next closing date for shareholders to respond to the offer - the largest ever buy-out of a Lloyd's insurer...

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