Aspen rejects $3.2bn Endurance takeover
Bermuda-based insurer slams unsolicited offer as “ill conceived” and undervaluing business.
Aspen Insurance Holdings rejected an unsolicited takeover proposal from Endurance Specialty Holdings of $3.2bn [£1.92bn].
Endurance had offered to pay $47.50 per Aspen share with 60% coming in its own stock and 40% in cash.
The board of directors at Aspen stated that they had carefully reviewed the offer but found it was not in the best interests of the business or its shareholders.
Ill-conceived
Glyn Jones, chairman of the board, said: "Endurance's ill-conceived proposal undervalues our company
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