Beazley board ‘not yet had the chance to consider’ £7.67bn Zurich takeover proposal
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The board of Beazley has responded to Zurich’s bid confirming it has not had time to consider the improved offer having rejected a previous approach.
Zurich submitted the takeover bid of 1280 pence per share earlier today as it looks to buy 100% of Beazley. The offer valued the target at £7.67bn.
In its announcement Zurich revealed it had previously made an offer on 4 January worth 1230 pence per share and this had been dismissed.
Response
Hours after the announcement the Beazley board detailed it had rejected the first offer unanimously “on the basis that it significantly undervalued the company”: “The board has not yet had the chance to
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