Insight and Intelligence on the London & International Insurance Markets

4 February 2012

Brit Insurance concedes to Apollo’s increased £880mn offer

28 July 2010

Brit Insurance's share price has leapt by 11 percent this morning after the UK insurer conceded to an increased 1,075p per share indicative offer from Apollo Management and allowed the New York buy-out firm in for formal due diligence.

The announcement was made almost seven weeks after Brit said it had rejected an initial approach from the private equity company, which led the insurer's share price to rocket from the 720p it was trading at before the announcement to close...

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