Private equity Apollo lands Aspen for $2.6bn in cash

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Apollo Global Management has agreed to pay $2.6bn (£2.02bn) in cash to buy all of Bermuda-headquartered Aspen Insurance Holdings.

Aspen had been touted for sale since March and the deal will see the private equity firm pay $42.75 per share through the Apollo Funds, a 6.6% premium on the closing share price of 27 August.

The takeover has been backed by Aspen’s board of directors but is subject to regulatory and shareholder approval.

It is expected to close in the first half of 2019 and will

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