Insight and Intelligence on the London & International Insurance Markets

21 May 2012

Search archive

Other articles of interest
Brit management offered 10% incentive package
PE-backed Brit Insurance slashes costs
Achilles commits itself to keeping Brit workforce intact
Where next after the Brit Insurance buyout?
Apollo-CVC to use controversial PIK notes in Brit buy-out

Brit shareholders to receive 25p bonus on offer price

25 February 2011

Brit Insurance reported that would-be acquirer Achilles has agreed that year-end net tangible assets (NTA) stood at 1,121p per share, ensuring that shareholders will receive a 25p contingent value payment on top of the basic offer.

The wait to determine whether the NTA was in excess of 1,100p is thought to be one of the reasons why shareholders have been dragging their heels on approving the sale.

Under the terms of the recommended offer Brit shareholders will receive a nominal...

You are currently viewing an incomplete version of this article. If you are a subscriber then please login now. If you are a non-subscriber but would like to be able to view this article, then please select from the purchasing options below.

Purchase


Share:

Insider Publishing Limited - 2nd Floor Asia House, 31-33 Lime Street, London, EC3M 7HT, United Kingdom. The content of this website is copyright of Insider Publishing Limited 2012. All rights reserved Insider Publishing Limited actively monitors usage of our website and products and reserves the right to terminate accounts if abuse occurs.

Π