Zurich takeover of Beazley a step closer after boards agree offer terms
The respective boards have agreed the terms of a recommended all-cash offer by Zurich for the entire issued and to-be-issued share capital of Beazley.
Under the terms of the transaction, Beazley shareholders will be entitled to receive a total value of 1,335 pence per Beazley share, comprising 1,310 pence in cash per Beazley share and a dividend of 25 pence per Beazley share.
Beazley shareholders will be entitled to receive cash consideration of, in aggregate, approximately £8.1bn (US$10.8bn).
Zurich claimed the transaction represents a strong step in accelerating the insurer’s strategy to create the global leader in specialty insurance.
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