Omega defends capital position; looks to life after Byrne
Lloyd's takeover target Omega has issued a robust denial that its capital position has materially weakened after speculation mounted that a decline in book value had derailed a strategic investment from Mark Byrne's Haverford Bermuda (HBL) vehicle.
The transaction, which appeared almost certain to proceed just weeks ago, has collapsed into acrimony after Haverford chairman Mark Byrne withdrew his original tender offer and resubmitted a lower bid at the beginning of December.
The dispute is thought to centre on Haverford&#...
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