Corvus Capital, the investment group operated by British financier Andrew Regan, confirmed that it is considering a takeover bid for Royal & Sun Alliance, the U.K.’s second largest general insurer (See IJ Website June 13).
In a brief announcement concerning the possible takeover move R&SA said only: “that it has not received any approach, nor is it involved in any discussions which could lead to an offer being made for the Company. A further announcement will be made if and when appropriate.”
Analysts value R&SA at around £2.4 billion ($4.35 billion). So far Corvus has not released any further details concerning a possible offer, indicating that any negotiations are at an early stage and that no offer has yet been made.
Nevertheless R&SA shares rose briefly to a 3-month high of 86 pence ($1.55) on the London Stock Exchange on the takeover rumors.
Was this article valuable?
Here are more articles you may enjoy.
Grandson Not Covered Under Grandma’s Home Insurance 
Hot Sauce Company Sues Manufacturer Over Exploding Bottles 
Forecasters Warn of ‘Potentially Catastrophic’ Storm From Texas to the Carolinas 
Updated: 6 Killed in Private Plane Crash at Maine Airport 
