Canopius offer for Omega recommended
Canopius has made a cash offer of 67p per share for Omega Insurance Holdings.
The offer, which has been recommended by the Omega board, values the company’s share capital at £163.9m, and will be financed through a deal between Canopius, Tower Group and the Bregal Fund.
The acquisition is expected to be completed in July 2012, following a special general meeting to be held in June.
Omega's existing operations will be integrated into the Canopius Group following completion of the deal.
Michael Watson, executive chairman of Canopius said: "Omega is a good business with a
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