Insurance Age

Towergate on verge of securing network deal

    • Andrew Tjaardstra

    • Indicative reading time: 1 minute

  • LinkedIn  
  • Save this article
  • Print this page  

Towergate has made a bid of £95m for Broker Network that has been accepted by over 50% of the compan...

Towergate has made a bid of £95m for Broker Network that has been accepted by over 50% of the company's shareholders.

The bid price values Broker Network's shares at 605p each, having been floated originally at 71p in May 2004. The plan is to roll the AIM-listed firm into a network division within Towergate.

Grant Ellis, chief executive at Broker Network and owner of 13% of its shares, has agreed to become executive chairman of the division. He will also oversee the Countrywide network, which was

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact info@insuranceage.co.uk.

You are currently unable to copy this content. Please contact info@insuranceage.co.uk to find out more.

Copyright Infopro Digital Limited. All rights reserved.

You may share this content using our article tools. Printing this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/

If you would like to purchase additional rights please email info@insuranceage.co.uk

Copyright Infopro Digital Limited. All rights reserved.

You may share this content using our article tools. Copying this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/

If you would like to purchase additional rights please email info@insuranceage.co.uk

Sorry, our subscription options are not loading right now

Please try again later. Get in touch with our customer services team if this issue persists.

New to Insurance Age? View our subscription options

Register

Sign up and gain access to five complimentary news articles every month.

Already have an account? Sign in here

This address will be used to create your account

More on Broker

Arch goes live on Applied

Applied has confirmed that Arch Insurance has launched a specialist property owners insurance product on its commercial e-trading panel.

Biba 2024: FCA to take its time on transparency proposals

Emily Shepperd, chief operating officer of the Financial Conduct Authority, has said the regulator was “overwhelmed” at the response and amount of feedback to its transparency proposals, and that it is going to “really take our time” when considering any possible next steps.