Beazley trades close to Zurich’s £8.1 billion offer with EU review ongoing
Beazley shares were flat in London on Wednesday afternoon after the European Commission listed Zurich Insurance’s planned buyout for simplified merger review, and Zurich reported more share buys. The stock traded flat at 1,284.5 pence as of 1350 BST. Zurich’s leftover cash offer stands at 1,310 pence per share, accounting for Beazley’s 25-pence dividend with a payment date of May 1. That leaves a 25.5-pence spread, or deal spread, representing expected return if the deal goes through as set. This was about 2%.