Brit says no to 1,050p Apollo bid
Brit Insurance has rejected US private equity firm Apollo's 1,050p approach, but said it would be willing to consider a higher offer.
In a statement to the London Stock Exchange this morning (2 July), Brit said after "listening to its major shareholders" that the Apollo offer still "undervalues the company and, accordingly, would not represent a basis on which the board is prepared to engage with Apollo".
The UK (re)insurer continued: "However, the board remains open to engaging if Apollo...
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