""The board of Beazley has carefully considered the proposal, together with its advisers. The board has concluded that the financial terms of the proposal are at a level that it would be minded to recommend to Beazley shareholders should a firm intention to make an offer be announced.""
""The transaction would combine two highly complementary businesses and would establish a leading, global specialty platform with around 15 billion US dollars (£11 billion) of gross written premiums, based in the UK which would also leverage Beazley's Lloyd's of London presence.""
Zurich has agreed to buy UK-listed specialist insurer Beazley in an £8 billion takeover. Zurich will pay £13.10 in cash per share and shareholders will receive a 25p dividend as part of the deal. Beazley's board carefully considered the proposal with advisers and concluded that the financial terms would be at a level it would be minded to recommend should a firm intention to make an offer be announced. The transaction would combine two highly complementary businesses to establish a leading global specialty platform with around $15 billion (£11 billion) of gross written premiums, based in the UK and leveraging Beazley's Lloyd's of London presence.
Read at London Business News | Londonlovesbusiness.com
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