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Beazley Plc has formally rejected a £7.7 billion ($10.3 billion) takeover proposal from Zurich Insurance Group AG. The UK specialty insurer, known for its cyber and risk coverage, deemed the offer undervalued, despite it representing a significant 23% premium on its recent share price. Beazley communicated its stance to Zurich, signaling that the company intends to remain independent. This rejection marks the latest development in Zurich’s ongoing attempt to expand its global footprint through a major acquisition in the specialty insurance market.
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