Offer for Lloyd's insurer Omega
Tuesday 11 January 2011
Shares in Omega Insurance rose 3 per cent yesterday after the property and casualty insurer said it had received an unsolicited bid approach from its privately owned rival Canopius.
Shares in Omega, which have fallen by a fifth in the past year as the Lloyd's of London member was hit by a string costly natural disasters including the Chilean and New Zealand earthquakes, rose 3p to close at 102.75p, valuing it at £250m.
Omega said: "Whilst any approach which may be in shareholders' interests will be duly considered, the board continues to build the business." It said its largest shareholder, the fund manager Invesco Perpetual – which owns nearly a third of the insurer – was supportive of its position.
- 1 California man brutally beat 82-year-old Sikh grandfather he mistook for 'one of those people'
- 3 Charles Kennedy 'had better judgement drunk than many sober politicians' says Ian Hislop
- 5 We have six months to save the world, says leading economist
California man brutally beat 82-year-old Sikh grandfather he mistook for 'one of those people'
Sepp Blatter resigns: FBI are investigating outgoing Fifa president, claims report
Alton Towers crash: Four seriously injured and 16 guests trapped as Smiler ride carriages collide
Gay teenager 'forced to have sex with his own mother' to 'cure' his homosexuality, campaigners in India say
Charles Kennedy 'had better judgement drunk than many sober politicians' says Ian Hislop
Thousands of teenage girls enduring debilitating illnesses after routine school cancer vaccination
Migrants in Kos: Photos show real tragedy after Brits abroad complain of 'awkward' holidays
British tourists complain that impoverished boat migrants are making holidays 'awkward' in Kos
Michael Gove determined to scrap the Human Rights Act – even if Scotland retains it
Threat to scrap Human Rights Act could see UK follow Nazi example, warns UN official
Church of England 'one generation away from extinction' after dramatic loss of followers
iJobs Money & Business
£30000 - £35000 per annum: Recruitment Genius: The UK's fastest growing, multi...
£70000 - £90000 per annum: Recruitment Genius: A Financial Reporting Manager i...
£23000 - £25000 per annum: Recruitment Genius: They win lots of awards for the...
£13500 - £20000 per annum: Recruitment Genius: This nationwide enforcement com...