The UK’s Brit Insurance Holdings PLC, a Lloyd’s and London market insurer, has confirmed that it has made a proposal to the board of Chaucer Holdings PLC in relation to a possible offer for the entire issued and to be issued share capital of Chaucer.
Brit said it is offering 0.23 of its shares for each Chaucer share. Brit’s shares were up this morning on the London Stock Exchange at 177.50 pence (app. $2.92), making the offer for Chaucer worth around 40.8 pence (67.08 cents). Chaucer’s shares closed at 42 pence (69 cents) on Friday.
Brit noted that, “the possible offer remains conditional upon, inter alia, a recommendation from the Board of Chaucer. This is not a waivable pre-condition.”
Source: Brit Insurance: www.britinsurance.com
Was this article valuable?
Here are more articles you may enjoy.
Three Top P/C Insurers Account for Most of Insurance AI Patents 
CEO Sentenced in Miami to 15 Years in One of the Largest Health Care Fraud Cases 
Former CEO of Nonprofit P/C Statistical Agent Sentenced for Stealing Millions 
Cloudy Future for Bourbon Has Jim Beam Closing Distillery for a Year 
