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Evening Standard
Evening Standard
Holly Williams

Beazley rejects £7.7 billion takeover tilt from Swiss insurance rival

Beazley Zurich Insurance Zurich Insurance
Zurich Insurance has unveiled a proposal to buy London-listed rival Beazley in a deal worth £7.7 billion. (Alamy/PA) -

Specialist insurer Beazley has rebuffed a £7.7 billion takeover approach from Swiss rival Zurich Insurance, revealing it is lower than a previously-rejected proposal made by the suitor last June.

Zurich’s latest offer saw it table a potential offer of £12.80 a share, up from an earlier and previously undisclosed approach for £12.30 a share on January 4, which was rejected.

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