Omega shoots down Barbican merger offer
Lloyd's (re)insurer Omega has rejected a proposal for a nil-premium merger that its peer Barbican tabled yesterday (19 January).
Barbican's owner Carlson Capital had tabled an indicative proposal that would have merged the two companies at an exchange ratio determined by their audited book value at 31 December.
"A reverse takeover transaction as proposed by Barbican, which previously included a partial cash alternative, was rejected by the board and shareholders," Omega said in its statement. "The proposal received yesterday offers...
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