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.
Kyle Busch and Wife Settle Lawsuit With Pacific Life and Insurance Agent 
Stryker Remains Offline After Cyberattack Linked to Iran Group 
NC Insurance Agent Posts Statement After Arrest on Embezzlement Charges 
Fund Trying to Turn New Mexico Desert into an Advanced Tech Hub 
