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Pamplona “king makers” in Chaucer deal
23 June 2009
Pamplona Capital Management’s decision to increase its stake in Lloyd’s insurer Chaucer to 9.26% could scupper Brit Insurance’s rival offer for the firm, an analyst has told Reactions.
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[pamplona capital managment]
[brit insurance]
[chaucer]
Pamplona Capital Management’s decision to increase its stake in Lloyd’s insurer Chaucer to 9.26% could scupper Brit Insurance’s rival offer for the firm, an analyst has told Reactions.
Yesterday’s move by Pamplona to acquire 7.34% of Chaucer values Chaucer at 44 pence a share and trumps Brit’s earlier bid, which valued the Lloyd’s insurer at 40 pence a share, or 4% less than Chaucer’s closing price on June 19 of 42 pence.The private equity firm financed by Russia's Alfa bank also reiterated its intention...
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