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Evening Standard
Evening Standard
National
Holly Williams

Beazley shares hit record high after £7.7bn takeover approach from Swiss rival

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

Zurich Insurance has unveiled a proposal to buy London-listed rival Beazley in a deal worth around £7.7 billion.

The Swiss insurer said it had tabled 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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