‘Softening’ of language offers Zurich hope over Beazley deal, say analysts after latest bid rejection
The sixth time could be the charm and a Zurich takeover of Beazley is still possible, according to analysts at Jefferies who have put forward a potential top price of 1,408 pence per share.
Beazley’s board rejected a £7.67bn bid this morning after Zurich had made the approach on Monday.
The £7.67bn proposal was the first to be announced; however, in the subsequent back-and-forth between the firms, it has emerged there have been five in total – the extras being three last June and one at the start of this January.
The first approach in January at 1,230 pence per share was rebuffed by Beazley for “significantly undervaluing” the company. After the offer was hiked to 1,280 pence and
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