Brit Insurance has rejected a takeover bid of £10-a-share from US private equity firm, Apollo.
Following the news, shares in Brit soared 20% after the company said the offer “significantly undervalues” the group.
Brit, which became the England cricket team sponsor in January, saw its shares rise above the 900p mark on Friday, before falling [...]
The Treasury and Lloyds senior executives could be sued over the controversial takeover of HBOS, which took place at the height of the financial crisis.
An investor group called Lloyds Action Now, which was established a year ago, claimed investors were lured into voting for the takeover, while not being provided with all the relevant information [...]
British insurance giant Prudential has today said it has no plans for a renewed bid for AIA, the Asian arm of US company American International Group (AIG).
The statement came after media reports today suggested that a fresh takeover deal was in the pipeline.
Chad Tendler, Prudential’s Hong Kong-based spokesperson, told Reuters: “We remain highly committed to [...]
British insurance giant Prudential has failed to renegotiate the price of its takeover of AIA, the Asian arm of US company American International Group (AIG).
The deal now looks set to collapse after AIA snubbed the lower price tag of $30.375 billion.
It emerged last week that the Pru, which is Britain’s second largest insurer, was renegotiating [...]
Bank of America (BoA) has today reported its first quarter earnings, rising 0.7% to $2.83 billion (£1.83 billion) from $2.81 billion a year ago, boosted by record sales and trading activity at its investment bank, as well as its acquisition of Merrill Lynch.
However, the bank posted a $2.1 billion loss in its home mortgage business. [...]
US food giant, Kraft, has been criticised by a group of MPs today after the company pledged to keep open Cadbury’s Somerdale factory in Keynsham, but later decided to close the site following its takeover of the British confectioner.
Kraft, which made several hostile bids for Cadbury before shareholders finally agreed to a deal, initially said [...]