Pamplona Capital Management, which contains 9.9 per cent of Chaucer, says he has not received 56p-, the share of cash American challenger proposal, which builds on Lloyd's London board of the insurer.
William flew Pamplona, ??which holds an additional 6 percent stake through derivatives, said: "We believe that the price is inadequate and there is currently no intention to accept the offer."
Investment vehicle, which had previously tried to approval by the Financial Services Authority to increase its stake to 29.9 percent, is managed by Paul Thompson. Mr. Thompson is a former chief executive of Resolution, Clive William flew Cowdery, the rate for purchase of cars for the market life, but he left in 2007 with a compensation package of around £ 6,000,000. Pamplona, ??which has some strategic investments in insurance companies, Lloyd's, declined to comment beyond its one-line statement on the adviser. He instructed the price would find acceptable.
Her intervention threatened to complicate an agreement with Hanover, Chaucer, which permanently support a little more than a fifth of its other investors. Hanover needs approval of 75 percent of investors Chaucer for the deal to go through. Pamplona can not only block rate, but other shareholders could call it back and put pressure on management to revise the price.
Chaucer agreed that the rate of Hanover, based in Massachusetts, despite facing millions in claims losses from an unprecedented wave of natural disasters.
Insurance in the absorption of talks in February, is also courting Terra Firma, the investment of city financier Guy hands. Goldman Sachs and TPG, a private equity group, is also considered working in
No comments:
Post a Comment