Brit rejects PE valuation following share offer
Brit Insurance has confirmed that it has received an offer for the business from private equity firm, Apollo Global Managment.
However, in a statement, the insurer said it had rejected the offer of £10 a share as it undervalued the company.
“In response to recent press speculation, the board of Brit Insurance Holdings confirms that the indicative proposal that it recently received was made by Apollo Global Management.
“Brit Insurance confirms that Apollo's proposal, which was subject to a number of pre-conditions including due diligence, was for £10 per share in cash.
“As previously stated, the board of Brit Insurance
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