Barbican Insurance Group
Barbican Insurance Group

Apollo ups Brit offer to £10.75 a share

US private equity firm, Apollo Management, is moving nearer to its takeover goal with Brit agreeing to access to its books and considering an increased offer of £10.75 a share.

 

Though not a done deal, Brit's chief executive, Dane Douetil, indicated that an agreement could now be reached " within weeks, not months."

 

The new bid from Apollo values the company at around £852 million. Brit shares have risen by around 25% since the original bid was made in early June.

 

 

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